Marco Bizzarri reportedly in competitive race to buy Versace

Several fresh contenders have entered the running to acquire Versace, with former Gucci CEO Marco Bizzarri reportedly eyeing the sale as an opportunity to cement his new career as an investor.

Since Versace owner Capri Holdings floated the sale of the heritage Italian house back in December, names of possible new owners have been swirling as Barclays is leading efforts to secure buyers for both Versace and Jimmy Choo on behalf of the holding company, WWD reports.

The sale, which initially drew interest from approximately 15 potential buyers, has now narrowed to half that number, with final bids for the next round anticipated by early February.

While Prada Group’s interest has been a topic of speculation for some time, other reported bidders include Bahraini investment firm Investcorp, private equity group Permira, and others. Ferrari owner Exor was also said to have expressed interest but is believed to have stepped back from the process.

Each bidder appears to have a distinct strategy, and not all are targeting every asset on offer. Nonetheless, Versace remains the centre of attention, continuing to be seen as a globally coveted luxury brand, despite the challenges it has faced under Capri Holdings.

It is thought that fashion-focused contenders, such as Prada and Bizzarri, may hold an edge thanks to their extensive networks, which could be instrumental in elevating the brand. Strategic buyers like Prada may also be able to justify higher bids by later streamlining operations and cutting costs elsewhere in the business.

Miuccia Prada and her son, Lorenzo Bertelli, are reportedly showing particular interest in acquiring Versace. While Prada’s initial involvement was met with scepticism, as some believed it represented a chance to gain insight into a rival’s financials, the brand is said to remain a serious contender in the bidding process.

For Marco Bizzarri, reportedly in the process of securing funding for the deal, acquiring Versace would firmly establish his second act as a dealmaker.

Earlier this year, the former Gucci president and CEO told WWD that his focus was on “prioritising investments in creative entrepreneurs, business leaders and great Italian brands.”

Bizzarri has already ventured into the investment world, having acquired a 23% stake in Elisabetta Franchi last spring through his personal holding company, Nessifashion, where he also assumed the role of chairman of the Italian fashion house.

According to sources, Donatella Versace’s contract as Chief Creative Officer of the iconic Italian brand is set to expire in February, sparking speculation about whether she—or Capri—will choose to renew it.

The interest from Bizzarri and Prada has fuelled rumours that Dario Vitale, formerly the Design Director for Miu Miu’s ready-to-wear line, could potentially succeed Donatella. A source described Vitale as a measured and thoughtful designer, unlikely to make impulsive decisions, and cautious about engaging with the brand during the ongoing sale process.

In 2018, Donatella Versace oversaw the $2.1 billion sale of her family’s business to the then Michael Kors Holdings, which later rebranded as Capri. Since Capri’s $8.5 billion acquisition by Tapestry Inc. was abandoned due to a USgovernment antitrust challenge, there has been widespread speculation that Capri is weighing up its options for Versace, Jimmy Choo, and possibly even Michael Kors itself.

Neither Capri Holdings nor Prada Group has responded to request for comment.

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