Prada wants to buy Versace – level 1

16-01-2025 07:00

Prada may buy Versace, a famous fashion brand.

Capri Holdings owns Versace, Michael Kors, and Jimmy Choo. Capri is having trouble because fewer rich people are buying expensive things. Last year, a company called Tapestry wants to buy Capri for 8.5 billion dollars. But the deal does not happen. Now, Capri is thinking about selling its brands.

Prada is working with Citi, a big bank, to decide if it wants to buy Versace. Other companies are also interested in buying. Some people think that someone may buy the whole Capri company.

So far, nobody from Prada or Capri says anything about it.

Difficult words: fashion brand (a company which makes and sells clothes, shoes, and other things), rich (someone who has a lot of money), brand (a name or a product which a company makes).

You can watch the original video in the Level 3 section.

Who does Capri Holdings currently own and why are they considering selling their brands?

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