European Commission approves Prada’s acquisition of Versace

The European Commission has approved, under the EU Merger Regulation, Prada S.p.A.’s acquisition of sole control of Givi Holding S.r.l, the Italian parent company of luxury fashion brand Versace.

The transaction, which primarily concerns the design, manufacturing, and distribution of luxury goods, was scrutinised under the Commission’s simplified merger review procedure, Caliber.Az reports, citing the European Commission.

Following its assessment, the Commission concluded that the deal would not raise competition concerns, citing the companies’ limited market positions and the low risk of market dominance resulting from the acquisition.

By Aghakazim Guliyev