MILAN (Reuters) – Italy’s Prada (OTC:) is contemplating shopping for vogue group Versace from U.S. Capri Holdings (NYSE:), day by day Il Sole 24 ore reported on Friday.
Citi is appearing as adviser to Prada, the report stated, including Capri Holdings had mandated Barclay’s to seek out potential patrons.
The Italian monetary day by day added that different vogue teams, in addition to personal fairness funds, would even be serious about Versace, however {that a} worth for the Italian maison was nonetheless being mentioned. It stated Prada didn’t touch upon the report.
Final month, commerce journal Ladies’s Put on Every day had reported that the U.S luxurious conglomerate, which additionally owns Michael Kors and different vogue teams, was working to seek out patrons for a few of its manufacturers, together with Versace and luxurious shoemaker Jimmy Choo, with a purpose to give attention to a turnaround plan for Kors.
In November, Capri posted a bigger-than-expected drop in quarterly income, damage by execution missteps throughout manufacturers and a worldwide slowdown in luxurious items demand.
