It’s been rumoured for a while now that the Prada Group was eyeing up a big purchase in the form of Versace and now, in news that’s just broken, it’s been confirmed to be true. 

The Group, which owns Prada (duh!), Miu Miu, Churches and the gorgeous little pasticceria that is Marchesi – and a handful more – just scooped up the brand for a casual sum of €1.25B. This was after months of negotiating, and a reported €200M discount, and honestly, who could resist a sweet bargain like that? 

The news comes shortly after it was announced that Donatella Versace was hanging up her stilettos as the creative director of the house, with the designer instead taking on the role of brand ambassador. Donatella had been leading Versace forward for close to 30 years, after her brother, founder Gianni, was killed in 1997.

“I am absolutely delighted for Versace to become part of the Prada family,” Donatella wrote on Instagram under a photo of herself and Miuccia. “Gianni and I have always had a huge admiration for Miuccia, Patrizio, and their family. I am honoured to have the brand in the hands of such a trusted Italian family business and I am ready to support this new era for the brand in any way that I can.”

As Donatella stepped down, it was simultaneously revealed that Dario Vitale had been appointed creative director of Versace. This makes all the more sense now. Vitale had previously worked at Miu Miu since 2010, helping to shape Miuccia Prada’s bratty little sister line across the course of the last 15 years, and surely having a hand in the monumental success it’s enjoying right now.

Prior to that, he’d also undertaken stints at Bottega Veneta and Dsquared2, so he definitely knows his way around a micro-miniskirt – which is great news for fans of Versace, who are known to like their skirts shot and their dresses slinky.

So what does this mean for Versace, and can we expect another Fendace-esque collab moment from Vitale and Mrs. P? For now, that remains to be seen – but honestly, I absolutely hope so. 

Revist the AW25 Versace collection in the gallery above and the Prada one below.