It’s no secret that Gen Z has a healthy skepticism toward big corporations, and in fashion, it feels like LVMH and Kering are slowly acquiring everything in sight. 

That’s part of what makes independent brands like Prada, Chanel, and Hermès stand out from the crowd. In 2024, Hermès reported a 18% increase in net revenues, and Prada Group saw a 17% bump. Chanel surpassed LVMH as the most valuable luxury brand in the world, while LVMH’s fashion and leather goods revenue dipped 1% in Q4 of 2024. Which raises an interesting question: are corporate giants ruining the very essence of what makes these brands special?

Capri Holdings, founded by Michael Kors in 2001, acquired Jimmy Choo in 2017 and Versace in 2018. But with Prada Group set to take over Versace, Capri Holdings will be left with just Michael Kors and Jimmy Choo.

What’s intriguing about Prada Group’s acquisition of Versace is that it doesn’t quite feel like the corporate machine at work, as we’ve seen with the big conglomerates. Prada and Miu Miu have always been family-owned, and Church’s and Car Shoe have been part of the group for over two decades. This feels like something different—a heritage brand nurturing another, rather than folding another name under a vast conglomerate. There’s something almost refreshing about seeing two iconic Italian brands join forces in a way that feels more authentic, rather than just a corporate acquisition for the sake of expansion. Excited.

With Prada and Miu Miu thriving, it’ll be interesting to see how the Prada Group manages their first acquisition in 24 years. Can they breathe new life into Versace as they’ve done with their own brands? Donatella Versace has stepped down as Creative Director, though she’ll still be involved in the brand’s future. And we know that Versace still has the ability to generate a viral moment with Dua Lipa’s La Vacanza collection taking over the internet in 2023 and the FW25 collection generating buzz for the printed underside of a structured dress.