Prada among suitors looking at Versace, newspaper reports

Reuters
10 Jan
UPDATE 1-Prada among suitors looking at Versace, newspaper reports

Adds Prada no comment to Reuters

MILAN, Jan 10 (Reuters) - Italy's Prada 1913.F, 1913.HK is among potential suitors examining the acquisition of fashion group Versace which Capri Holdings has put up for sale, daily Il Sole 24 ore reported on Friday.

In November Coach-owner Tapestry TPR.N dropped a $8.5 billion deal to buy Michael Kors-owner Capri CPRI.N.

After that deal to create a U.S. luxury conglomerate fell through, Capri hired Barclays to look at strategic options including the sale of its Versace and Jimmy Choo brands, two people with direct of the knowledge of the matter told Reuters.

One person did not rule out the entire Capri Holdings group could also be up for sale.

Prada is looking at the file with Citi, the report said. Citi has worked with Prada in the past over a dual-listing project which was put on hold.

Contacted by Reuters, Prada declined to comment.

In November, Capri posted a bigger-than-expected drop in quarterly revenue, hurt by execution missteps and a global slowdown in luxury goods demand.

(Reporting by Elisa Anzolin and Sara Rossi; Writing by Valentina Za, editing by Giulia Segreti, Himani Sarkar and Jason Neely)

((sara.rossi@thomsonreuters.com; +39 06 8030 7736;))

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