Prada's acquisition of Versace a "revenues project, not a synergies one", CEO says
ReutersApr 10, 2025 2:07 PM
April 10 (Reuters) - Prada Chief Executive Andrea Guerra, CFO Andrea Bonini and Chief Marketing officer Lorenzo Bertelli tell a conference call after the announcement of the acquisition of Versace: :
CFO: COMMITTED TO A 1.5 BILLION OF NEW DEBT, 1 BILLION OF TERM LOAN AND 0.5 BRIDGE FACILITY
CEO: GROUP HAD NO ROLE IN APPOINTMENT OF DARIO VITALE AS CREATIVE DIRECTOR OF VERSACE
CEO: VERSACE'S LICENSES FOR FRAGRANCES AND EYEWEAR ARE "JUST GREAT"
CEO: VERSACE DEAL IS A REVENUES PROJECT, NOT A SYNERGIES PROJECT
EXEC: MIUCCIA PRADA WILL HAVE NO INVOLVEMENT WITH VERSACE, WITH REGARDS TO CREATIVE SIDE
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