Reported 1 day ago
Prada is reportedly among the potential buyers exploring an acquisition of Versace, which is being sold by Capri Holdings. The luxury sector faces challenges, particularly with declining sales, prompting Capri to seek strategic options, including selling its brands. Prada has partnered with Citi to assess a bid, although analysts express skepticism about Prada's genuine interest, considering its past challenges with acquisitions and the need for a comprehensive turnaround at Versace.
Source: YAHOO