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Jess Weatherbed
Tariffs send Versace to the sale rack.

Prada is reportedly set to acquire Versace from Capri Holdings for $1.38 billion, scoring a $200 million discount on the previous valuation of the deal due to global trade uncertainties.

Capri, which is grappling with debts and weak market demand, was previously blocked by the FTC from selling itself to Coach owner Tapestry for $8.5 billion in 2023. Offloading Versace, albeit without Donatella Versace at the helm, could help Capri turn things around.

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