This article first appeared onVogue Business.
Versace is heading home to Italy.
The company is still searching for a buyer for Jimmy Choo.
Alena Zakirova/Getty Images
Capri at the time, Michael Kors Holdings acquired Versace in January 2019 for over $2.1 billion.
Versace joins Prada with a new chief creative officer.
His years with Miu Miu position the designer well under the newly Prada-owned brand.
Donatella Versace.
Reports first surfaced in January that Capri enlisted Barclays to help itsecure a buyer for both Versaceand Jimmy Choo.
As Capri and Versace part ways, a turnaround effort begins for Prada.
Can Prada get there?
Versace is in need of a reinvigoration, analysts have said.
Pandemic disruptions and a failed CEO succession plan led to struggles for Capri.
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