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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Headlines

    Italy's Prada considering buying Versace from Capri Holdings, daily reports

    Published by Global Banking and Finance Review

    Posted on January 10, 2025

    Featured image for article about Headlines

    MILAN (Reuters) - Italy's Prada is considering buying fashion group Versace from U.S. Capri Holdings, daily Il Sole 24 ore reported on Friday.

    Citi is acting as adviser to Prada, the report said, adding Capri Holdings had mandated Barclay's to find potential buyers.

    The Italian financial daily added that other fashion groups, as well as private equity funds, would also be interested in Versace, but that a value for the Italian maison was still being discussed. It said Prada did not comment on the report.

    Last month, trade journal Women's Wear Daily had reported that the U.S luxury conglomerate, which also owns Michael Kors and other fashion groups, was working to find buyers for some of its brands, including Versace and luxury shoemaker Jimmy Choo, in order to focus on a turnaround plan for Kors.

    In November, Capri posted a bigger-than-expected drop in quarterly revenue, hurt by execution missteps across brands and a global slowdown in luxury goods demand.

    (Reporting by Sara Rossi, editing by Giulia Segreti and Himani Sarkar)

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