Italian luxury group Prada has received European Union approval for its acquisition of Versace and its parent company Givi Holding, ruling that the deal does not pose competition concerns under EU merger regulations. Prada announced in April it would acquire Versace from U.S.-based Capri Holdings for $1.38 billion in cash. The transaction, expected to close inH2 2025, values Versace at 1.7 times its forecasted annual sales of $800 million — nearly one-third lower than the $2.01 billion Capri paid in 2018. Prada Chairman Patrizio Bertelli said the deal reflects admiration for Versace’s cultural legacy. In H1 2025, Prada’s sales rose 8% YoY to 2.74 billion euros ($3.01 billion).