Prada working on possible bid for Capri’s Versace brand, Reuters reports

Italy’s Prada (PRDSY) is among the potential suitors looking at fashion group Versace, which has been put up for sale by parent Capri Holdings (CPRI), a person with knowledge of the matter told Reuters’ Andres Gonzalez and Elisa Anzolin. After Tapestry (TPR) abandoned an $8.5B deal to buy Capri to create a U.S. luxury conglomerate, Capri executives did not rule out the possibility of a potential sale of its brands and Capri hired Barclays to look at strategic options, including the sale of its Versace and Jimmy Choo brands, the report said. Prada has been working with Citi (C) to evaluate any bid, added the report, which also points out that Italy’s Il Sole 24 Ore first reported that Prada was evaluating a possible bid with Citi.