financetom
Business
financetom
/
Business
/
BRIEF-Prada's acquisition of Versace a "revenues project, not a synergies one", CEO says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
BRIEF-Prada's acquisition of Versace a "revenues project, not a synergies one", CEO says
Apr 10, 2025 7:22 AM

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

Further company coverage:

(Reporting by Milan newsroom)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Plan to open 50 stores of Wow! Chicken in 2022, says Co-Founder Sagar Daryani
Plan to open 50 stores of Wow! Chicken in 2022, says Co-Founder Sagar Daryani
Jun 14, 2022
Quick service restaurant brand, Wow! Momo has devised a strategy to take on American player KFC. The company has launched a new brand called Wow! Chicken.
Startup founders must focus on values, culture and not just money: Girish Mathrubootham of Freshworks
Startup founders must focus on values, culture and not just money: Girish Mathrubootham of Freshworks
Jun 15, 2022
Founded in 2010, Freshworks started its journey from a 700 sq ft warehouse in Chennai, as a software as a service (SaaS) provider for customer support operations. In 2018, it became the first pure-play SaaS unicorn of India. Today, Freshworks' products are used by over 150 unicorns. That’s about 20 percent of all unicorns globally.
India is in Kapil Dev phase of Web 3.0; Tendulkar, Dhoni yet to come: General Catalyst
India is in Kapil Dev phase of Web 3.0; Tendulkar, Dhoni yet to come: General Catalyst
Jun 20, 2022
Since inception two decades ago, US-based venture capital firm General Catalyst has pumped in over USD 14 billion in more than 1,000 startups globally. In recent years, it has seen some notable IPOs, including AirBnB, Vroom, Cazoo, Deliveroo and more. The fund, which invests across stages - seed to growth and beyond, recently closed its eleventh fund with a corpus of USD 4.6 billion. Its largest fundraise till date. It is out of this fund that General Catalyst seeks to actively invest in Indian startups.
Amazon-backed BankBazaar CEO says he is ready for a funding round after 2 years to fuel the growth of co-branded credit cards
Amazon-backed BankBazaar CEO says he is ready for a funding round after 2 years to fuel the growth of co-branded credit cards
Jun 22, 2022
“We are hoping that it will be a great strategic investor. What we are thinking is this is a 20-30 year business build out. It is not a 5-6 year thing. So we are in it for the long haul,” said Shetty, the CEO of BankBazaar.com, which is backed by WSV, Experian, Eight Roads, Sequoia India, Walden International and Amazon.
Copyright 2023-2025 - www.financetom.com All Rights Reserved