Versace (Capri Holdings) vs Prada

Gianni Versace founded the house in Milan with a vision that was the exact opposite of the minimal, understated fashion of the time. Versace embraced vibrant colors, bold prints, Greek-inspired motifs (like the Medusa head), and daring cuts. The brand instantly became the symbol of high-octane glamour, dressing the world’s biggest stars and defining the look of the 1980s and 90s supermodel era.

The brand suffered a massive, existential shock following the assassination of Gianni Versace in 1997. His sister, Donatella Versace, took over the creative direction, a role she successfully maintained for decades. She navigated the brand through a difficult period, preserving Gianni’s legacy while evolving the house into a modern, global retail entity.

Versace was acquired by the American luxury group Capri Holdings (which also owns Michael Kors). The goal was to provide Versace with the necessary corporate, retail, and supply-chain infrastructure to compete with the massive European conglomerates like LVMH and Kering. This acquisition allowed the brand to accelerate its global expansion and deepen its reach into lucrative Asian markets.

Under Capri’s ownership, Versace has been meticulously repositioned to sit firmly at the top of the luxury hierarchy. The focus shifted back to ultra-high-end fashion and exclusive accessories. By reducing its footprint in lower-tier retail and focusing on its core "house codes"—Medusa hardware, safety pins, and bold prints—the company has managed to reclaim its status as a top-tier global luxury player.

By mid-2026, Versace stands as the jewel in the Capri Holdings crown. It continues to be the primary leader in the "maximalist" luxury segment, maintaining its unique ability to combine raw, Italian sex appeal with sophisticated, high-end tailoring. The brand remains a dominant cultural force, consistently delivering the high-impact designs that have defined its name for nearly half a century.

Mario Prada opened a leather goods shop in Milan's Galleria Vittorio Emanuele II in 1913, selling handbags, luggage, and accessories. The shop was appointed official supplier to the Italian Royal House. Mario Prada built a reputation for quality and discretion. He also held a firm conviction, which he stated explicitly, that women should not be involved in running a business. His granddaughter Miuccia would prove him comprehensively wrong.

Miuccia Prada inherited the family business in 1978, having studied political science and trained as a mime artist. She had no fashion training. The company was struggling — sales were minimal, the brand had no direction, and several family members had already given up and sold their stakes. Miuccia, working with businessman Patrizio Bertelli who later became her husband, decided to rebuild the company around a single product: a black nylon backpack.

Prada's black nylon backpack, launched in 1985 and made from the industrial nylon used in military parachutes, was deliberately anti-fashionable — plain, functional, and made from a material associated with cheap utility rather than luxury. It became one of the most influential fashion objects of the 1980s, precisely because it rejected the prevailing aesthetic of visible logos and obvious luxury. Miuccia described her design philosophy as "making the ugly beautiful." Fashion critics initially couldn't decide whether to celebrate or condemn her. Eventually they did both.

The 2006 film "The Devil Wears Prada," based on Lauren Weisberger's novel, featured Meryl Streep as a thinly veiled Anna Wintour character named Miranda Priestly — who wore Prada exclusively. The film introduced Prada to hundreds of millions of people who had never engaged with fashion. Miranda Priestly's explanation of how cerulean blue was decided in the Prada collection before trickling down to discount bins became one of the most quoted passages in fashion culture — and the definitive articulation of how high fashion influences everything below it.

Prada Group reported revenues of €5.1 billion in 2024 — up 17% — driven primarily by Miu Miu, which had become the hottest brand in global luxury according to multiple industry indices, overtaking even Bottega Veneta and Balenciaga among fashion insiders. Miuccia's younger, more playful sister brand had eclipsed the parent brand in cultural heat while Prada itself maintained strong growth. Kering made acquisition overtures for Versace, which Prada declined. The woman whose grandfather had explicitly said women should not run the business had built one of the most respected fashion houses in the world — with a military-grade nylon backpack as its founding object.