“Capri Holdings has put its subsidiary company and fashion house Versace up for sale.”, — write: epravda.com.ua
Capri Holdings has put its subsidiary company and fashion house Versace up for sale. This was reported by the Reuters agency with reference to sources. It is noted that the Italian company Prada is among the potential buyers of the Versace fashion brand. Prada is working with Citi to evaluate a possible acquisition, according to a source familiar with the matter. Capri faces declining sales in the global luxury market, where buyer confidence has been shaken by reduced spending by wealthy Chinese and the end of a long boom period.Advertisement: In November, Tapestry, which owns the Coach brand, pulled out of an $8.5 billion deal to buy Capri, which also owns the Michael Kors and Jimmy Choo brands. After the failure of the deal to create an American luxury conglomerate, Capri executives did not rule out the possibility of selling their brands. Analysts estimate the value of Versace between $1.75 billion and $2.19 billion, excluding debt.