Prada among suitors for Versace, newspaper reports

MILAN (Reuters) -Italy's Prada (OTC:PRDSY ) is among potential suitors examining the acquisition of fashion group Versace which Capri Holdings (NYSE:CPRI ) has put up for sale, daily Il Sole 24 ore reported on Friday.

In November Coach-owner Tapestry (NYSE:TPR ) dropped a $8.5 billion deal to buy Michael Kors-owner Capri.

After that deal to create a U.S. luxury conglomerate fell through, Capri hired Barclays (LON:BARC ) to look at strategic options including the sale of its Versace and Jimmy Choo brands, two people with direct of the knowledge of the matter told Reuters.

One person did not rule out the entire Capri Holdings group could also be up for sale.

Prada is looking at the file with Citi, the report said. Citi has worked with Prada in the past over a dual-listing project which was put on hold.



Contacted by Reuters, Prada declined to comment.

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

Source: Investing.com