Prada among suitors eyeing Versace, Reuters newspaper reports


MILAN (Reuters) – Italy’s Prada (OTC:) is one of the potential suitors exploring the acquisition of the Versace fashion group sold by Capri Holdings (NYSE:), Il Sole 24 daily reported ore on Friday.

In November Coach-owner Tapestry (NYSE: ) struck an $8.5 billion deal to buy Michael Kors-owned Capri.

After that deal to create a US luxury conglomerate fell through, Capri was hired Barclays (LON:) is looking at strategic options including selling its Versace and Jimmy Choo brands, two people with direct knowledge of the matter told Reuters.

One person does not rule out that the entire Capri Holdings group could also be sold.

Prada looked at Citi’s file, the report said. Citi worked with Prada in the past on a dual listing project that was discontinued.

© Reuters. FILE PHOTO: A shopper holds a bag from high-end luxury goods maker Versace as she stands at a crosswalk on 5th Avenue in New York, November 19, 2008. REUTERS/Mike Segar/ File Photo

Contacted by Reuters, Prada declined to comment.

In November, Capri posted a larger-than-expected drop in quarterly revenue, hurt by execution errors and a global slowdown in demand for luxury goods.





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