Wachtell, Lipton, Rosen & Katz Advises Capri Holdings on $1.375 Billion Sale of Versace to Prada.
Wachtell, Lipton, Rosen & Katz has advised Capri Holdings Limited (NYSE: CPRI) in its agreement to sell Versace to Prada S.p.A. (HKSE:1913) for $1.375 billion in cash, subject to customary adjustments and regulatory approvals. The deal is expected to close in the second half of 2025.
Founded in Milan in 1978 by Gianni Versace, the fashion house has long stood as a symbol of bold Italian luxury. Under Donatella Versace’s creative direction and six years of strategic repositioning by Capri Holdings, the brand is now being passed to Prada Group, which Capri says is the ideal partner to lead Versace into its next era of growth.
“Versace is an iconic Italian fashion luxury house founded 46 years ago by Gianni Versace and further developed under the creative vision of Donatella
Versace. Over the last six years, we have made tremendous progress in repositioning the brand to place greater emphasis on its luxury heritage and exceptional craftsmanship.
Through elevated product, marketing and store enhancements, the brand is now well positioned for sustainable long-term growth. We are confident that Prada Group is the perfect company to further guide Versace into its next era of growth and success. This transaction reflects our commitment to increase shareholder value, strengthen our balance sheet and power the future growth of Michael Kors and Jimmy Choo.
We will continue to execute on the strategic initiatives shared at our recent Investor Day and remain confident in the long-term growth potential of Michael Kors and Jimmy Choo.” said John D. Idol, Chairman and CEO of Capri Holdings.
The sale is part of Capri’s strategic shift to concentrate its efforts on scaling Michael Kors and Jimmy Choo, two brands it aims to elevate through continued investment and global expansion.
Capri Holdings Limited is a global luxury fashion group, home to the iconic brands Michael Kors, Jimmy Choo, and formerly Versace. Founded as Michael Kors Holdings in 1981 and rebranded in 2019 after acquiring Versace, the company is headquartered in London with a global retail footprint of over 1,200 stores.
The Wachtell team advising Capri on the transaction includes partners Joshua R. Cammaker and Mark A. Stagliano, along with associates Nathaniel R. Ludewig, Anna Dimitrijević, and Savely S. Zakharenko on the corporate side; partner Damian G. Didden and associate Jordan Cohen-Kaplan handling antitrust matters; partner Jeannemarie O'Brien and associate Tallulah R. Tepper advising on executive compensation and benefits; partner Emily D. Johnson and associate Michael A. Chaia on finance; counsel Justin R. Orr and associate Maxim (Max) A. Miroff covering intellectual property; and partners Deborah L. Paul and Rachel B. Reisberg, with associate Sarah Perez Berger, advising on tax.
Wachtell, Lipton, Rosen & Katz is a highly prestigious American law firm based in New York City, known for its elite status in corporate law. Founded in 1965 by a group of NYU Law graduates—Herbert Wachtell, Jerry Kern, Martin Lipton, Leonard Rosen, and George Katz—the firm has built a formidable reputation for handling some of the most complex and high-stakes legal matters in the world. With a singular office in Manhattan and approximately 265 attorneys, Wachtell Lipton is especially renowned for its work in mergers and acquisitions, corporate governance, litigation, antitrust, and restructuring. The firm pioneered key legal strategies, including the “poison pill” defense against hostile takeovers, developed by co-founder Martin Lipton. Known for its lockstep compensation system and emphasis on partner-led work, Wachtell Lipton maintains an intentionally small, highly selective structure to deliver focused, high-caliber counsel to its clients.
