** Shares of Versace owner Capri Holdings CPRI.N up 6% at $20.66
** Versace brand's chief creative officer Donatella Versace is to step down and former Prada's 1913.F Miu Miu executive Dario Vitale will take over role on April 1, Capri says
** Donatella's exit spurred talks of Versace's acquisition by Prada
** This follows reports that Prada is moving closer to a deal to buy Versace from Capri after agreeing to a price of nearly 1.5 billion euros ($1.6 billion)
** "I don't know if bringing in Dario Vitale is directly related to the potential sale to Prada, but it seems like it makes it even more likely" — Morningstar analyst David Swartz
** "Attracting Vitale as the chief creative officer could make Versace more attractive to Prada and, potentially, increase the selling price," he adds
** Earlier this year, sources told Reuters that Capri had been working with Barclays to explore a sale of its Versace and Jimmy Choo brands
** CPRI down about 58% in the past 12 months, during which Coach-parent Tapestry also pulled the plug on its $8.5 bln deal to buy Capri
(Reporting by Neil J Kanatt in Bengaluru)
((Neil.JKanatt@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.