1521 GMT - Versace has distinctive aesthetics and strong brand awareness, but a plan to revamp the label adds risks for Prada, Stifel analyst Rogerio Fujimori says. U.S. group Capri Holdings agreed to sell Versace to Italian luxury firm Prada for $1.38 billion. On the positive side, Prada is buying Versace at a slightly lower price than expected a few weeks ago, the analyst says. Furthermore, Versace's new creative director, Dario Vitale, could reignite the brand's momentum, he adds. However, Versace has reported weak figures recently, and its turnaround plan could weigh on Prada's growth, Fujimori says. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
April 10, 2025 11:21 ET (15:21 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.