Weekly Fashion Highlights | Prada Group Acquires Versace For €1.25 Billion...
In the fast-changing and competitive global fashion market, the most eye-catching headline this week is that Prada Group officially acquired the Italian luxury brand Versace for €1.25 billion. This move not only reshaped the Italian luxury industry, but also heralded the official start of a new game around brand integration, creative replacement and market expansion. After Donatella Versace stepped down as creative director and new designer Dario Vitale took office, the future direction of Versace has attracted great attention from the industry.
At the same time, the boundaries of fashion and entertainment continue to merge. American rapper Cardi B announced a partnership with Revolve to create a personal fashion and beauty brand, continuing the trend of celebrities entering the fashion industry. Driven by the expansion of established luxury groups, the rapid rise of emerging brands, and the growing power of celebrities, the fashion industry is evolving at an unprecedented speed this week. The integration of Prada and Versace may just be the prelude to this global restructuring.
Prada Group Acquires Versace For €1.25 Billion
Prada Group officially announced that it would acquire Italian luxury brand Versace from Capri Holdings for 1.25 billion euros. This transaction not only attracted great attention from the global fashion industry, but was also seen as an important move to redefine the Italian luxury landscape.
Since Versace was founded by Gianni Versace in 1978, it has always been renowned worldwide for its gorgeous, sexy and avant-garde design style. Capri Holdings acquired Versace in 2018, trying to push it into a wider international market, but in recent years the brand has shown signs of fatigue in the fierce competition. In March 2025, Donatella Versace announced her resignation as creative director and became a brand ambassador. Former Miu Miu designer Dario Vitale took over the creative position to inject new blood into the brand.
Patrizio Bertelli, chairman of the Prada Group, said: "We welcome Versace to join the Prada Group family. Versace not only represents the bold spirit of Italian luxury fashion, but also has huge untapped global potential." He emphasized that the group will maintain the independence of the brand while providing strong support in supply chain, technology and market operations. Andrea Guerra, CEO of the Prada Group, also said in a statement: "Versace has irreplaceable brand charm and cultural influence. We look forward to exploring future growth potential with its team." After the acquisition, Donatella Versace will continue to serve as the brand's creative director and maintain her iconic aesthetics.
The acquisition came at a time when Capri's merger plan with Tapestry was stranded. Capri hopes to focus on the development of its Michael Kors by selling assets. For Prada, the addition of Versace will undoubtedly enhance the group's competitiveness in the global high-end market. In the future, under the integration of Prada Group's resources and the leadership of the new creative team, whether Versace can be rejuvenated will become one of the focuses.
Cardi B Partners With Revolve To Launch A Fashion Brand
Recently, American popular rapper Cardi B and Revolve Group, a California-based fashion and lifestyle retailer, announced the establishment of an exclusive joint venture to launch their debut clothing and beauty brand. This joint venture has ambitious goals and is committed to growing into a corporate group with extensive influence in the fashion industry. Cardi B stated that this collaboration had always been her long-term dream, and she hopes to bring products of the highest quality to her fans.
In recent years, many celebrities and artists have ventured into the beauty and fashion industry, a trend that continues to gain momentum. From Rihanna's Fenty Beauty to Kylie Jenner's Kylie Cosmetics, and now Cardi B, these stars have successfully carved out a niche in the beauty and fashion sector by leveraging their influence and unique fashion insights. These brands not only cater to fans' admiration for their idols but have also earned market recognition with their personalized designs and high-quality products.
Cardi B's collaboration with Revolve will undoubtedly spark another wave of enthusiasm in the beauty and fashion industry. By combining Cardi B's signature style with Revolve's fashion resources, the two parties will jointly create a series of highly anticipated products. Whether this joint venture can stand out in the fiercely competitive market and become a new favorite in the beauty and fashion world remains to be seen.
Victoria's Secret Appoints Adam Selman As Executive Creative Director
Victoria’s Secret officially announced a series of senior personnel changes, the most notable of which was the appointment of designer Adam Selman as senior vice president and executive creative director. This decision is seen as an important part of the brand’s comprehensive innovation strategy under the leadership of new CEO Hillary Super.
The reorganization has triggered positive market feedback. In August 2024, the news of Hillary Super's appointment and the second quarter performance exceeding expectations pushed the stock price up by more than 17% in a single day. Analysts believe that Selman's joining is expected to continue this momentum, especially his past success in Savage X Fenty may accelerate Victoria's Secret's recovery in the North American market. The brand has recently achieved four consecutive quarters of sales growth in North America, mainly due to the coordinated optimization of physical stores and e-commerce channels.
Victoria's Secret's transformation is still full of challenges, but the leadership innovation has undoubtedly injected new momentum into the brand. Whether the combination of Adam Selman and Hillary Super can lead this traditional giant to reshape its position in the industry will depend on whether it can truly embrace the values of contemporary consumers while maintaining its brand genes. The fashion industry is paying close attention to the next move of this old underwear giant.
PUMA Announces Arthur Hoeld as New CEO
German sports brand PUMA announced the appointment of former adidas executive Arthur Hoeld as the new chief executive officer (CEO), which attracted widespread attention in the industry. Arthur Hoeld has more than 20 years of experience at Adidas. He served as the global general manager of Adidas Originals and successfully promoted the brand's youth and cultural diversification strategy. He also led business development in several key markets and enhanced the brand's global influence.
The PUMA board of directors said in a statement: "Arthur Hoeld is a visionary and executive leader, and we believe he will lead PUMA to new heights." The appointment comes at a time when PUMA is seeking further expansion in the global market. Industry insiders believe that Hoeld's joining will bring new strategic directions to PUMA, especially in product innovation and brand building. Arthur Hoeld will officially take office in the next few weeks and begin working with the management team to develop the company's long-term development strategy. He said: "I am excited to join PUMA and lead this dynamic brand, and I look forward to meeting future challenges with the team." This high-level personnel change at PUMA indicates that the brand is seeking new breakthroughs in the global competition, and its future development is worth looking forward to.
The North Face x UNDERCOVER Launches SOUKUU Collaboration
The North Face once again joined hands with Japanese pioneer fashion brand UNDERCOVER to launch the fourth season of the "SOUKUU" collaboration, with the theme of "Move with intention.", integrating Zen philosophy and mountain texture into high-performance outdoor design. This season's series draws inspiration from the breathing rhythm of fast runners and the veins of mountain ridges, and creates outdoor items that are both functional and aesthetic through UNDERCOVER's iconic deconstructed tailoring and contrasting color stitching. Among them, the backpack-style waterproof jacket adopts the "urban blue and Aiken red" contrasting design, equipped with DRYVENT® waterproof technology to simulate the texture of rock formations; the breathable long-sleeved top and detachable assault pants enhance the moisture absorption and perspiration function to adapt to changing environments. In terms of footwear, the VECTIV cross-country running shoes are inspired by mountain ridge rifts, combined with carbon fiber plates and supercritical cushioning midsoles to provide strong grip.
Since the first collaboration in 2023, the SOUKUU series has been exploring the integration of outdoor and fashion with the spirit of "pursuing in complexity and thinking in nature". This collaboration continues The North Face's pursuit of high-end functionality while incorporating UNDERCOVER's pioneering aesthetics, once again confirming the brand's leading position in the "fashion outdoor" field.
Editor: Juham Lin, Yu Yuan