Versace’s future now rests with Prada, a company that’s nimbly navigated the recent slowdown in luxury spending. Photo: Reuters
Fashion executive John Idol thought Versace leaned too much on ornate designs and aimed to fix it by dialing things down, then boosting prices.
When his company, Capri Holdings Ltd, acquired the fashion house in 2018, he said his strategy would double the brand’s revenue over the next decade.
