Prada's crisis-era Versace deal still looks pricey
Full view will be published shortly.
Prada said on April 10 it will buy smaller Italian rival Versace from Capri for 1.25 billion euros, which includes its debt.
'The acquisition of Versace marks another step in the evolutionary journey of our Group, adding a new dimension, different and complementary,' Prada's Chief Executive Officer Andrea Guerra said in a statement.
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Mirror
8 hours ago
- Daily Mirror
Man Utd transfer news: Hojlund, Sancho and Garnacho exits stall as Donnarumma plea made
Manchester United have two weeks remaining in the summer transfer window and are facing a race against time to sell Jadon Sancho, Rasmus Hojlund and Alejandro Garnacho Manchester United began their Premier League campaign against Arsenal on Sunday – and while there were many new faces, the same old issues reared their head once more. Despite spending £200million on Matheus Cunha, Bryan Mbeumo and Benjamin Sesko, United failed to find the back of David Raya 's net. Meanwhile, their issues in between the posts continued, with Altay Bayindir at the centre of a debate on Monday after his error for Riccardo Calafiori's goal. Thankfully, there are still two weeks left of the summer transfer window for Ruben Amorim and his staff to address some of those issues. The problem for United is that they need to sell some of their unwanted players first before they can bring in more reinforcements. Unfortunately, there are many moving parts as they try to find new homes for the bomb squad players who have been exiled by Amorim. Here is the latest on those exits – and who could come in. Hojlund exit complicated Rasmus Hojlund was conspicuous through his absence on Sunday as we got a look at United's new-look forward line. Hojlund was left out of the squad entirely by Amorim and the club are now hoping to sell him before the window closes. They are willing to take a significant hit on the £72million they paid Atalanta a few years ago for his services. And yet things are not that simple, with AC Milan keen but not that keen. United want around £35m for the young Danish striker, but would also consider a loan at this late stage of the window. Milan, however, have Juventus ' Dusan Vlahovic as their top target, although those negotiations have reached a stalemate. Everything is up in the air, as Milan sporting director Igli Tare said: 'Hojlund is a good option for us. We are thinking about him, but in the transfer market, you never know what could happen.' Sancho and Garnacho delays Jadon Sancho is another player United are desperate to get rid of, but his £250,000-a-week wages are proving problematic. After moves to Juventus and Fenerbahce fell through, it is now the turn of Roma to get frustrated. The Italian club are threatening to pull out of a deal for the winger, despite agreeing a loan with an obligation to buy. Fabrizio Romano has reported that Sancho has informed Roma he is exploring other options. He has reportedly said no to Besiktas, where there would be a reunion with Ole Gunnar Solskjaer, and the situation looks set to run until the end of the window. Meanwhile, Alejandro Garnacho also remains a United player. Chelsea are keen on the winger, but need to first sell Christopher Nkunku to Bayern Munich. The German side have failed with a loan bid for Nkunku because the Blues want a permanent deal so they can sign either Garnacho or Xavi Simons from RB Leipzig. Utd urged to hijack Donnarumma deal Gianluigi Donnarumma has reportedly agreed terms with Manchester City and is now waiting for Ederson to move to Galatasaray. However, Bayindir's shocker on Sunday, and Andre Onana's general struggles at United, have raised the prospect of Donnarumma moving to a different part of Manchester. United enquired earlier in the summer about Donnarumma and Wayne Rooney believes they should try to hijack City's move. He said on his podcast: "Donnarumma, I think he's 26, he's one of the best goalkeepers in the world, it would be crazy if Man United don't go for him."
Reuters
17 hours ago
- Reuters
MFE still short of ProSieben majority after rival tender offers
MUNICH, Aug 18 (Reuters) - Italian media group MediaForEurope (MFE) said on Monday it has secured 43.6% of shares in ProSiebenSat.1 ( opens new tab, still short of a majority, as it builds its stake in an ongoing takeover bid for its German peer. MFE, owned by the family of late Italian Prime Minister Silvio Berlusconi, seeks to create a combined European television company to challenge U.S. streaming giants such as Netflix (NFLX.O), opens new tab and Amazon Prime (AMZN.O), opens new tab. While its offer fell short of a majority, it said ProSieben shareholders have another two weeks from Tuesday to tender their shares. A rival bidder, Czech investment company PPF ( said on Monday it had secured 18.4% of shares in ProSiebenSat.1 through its own offer. That was short of its goal of a 29.99% stake, but PPF remains a major hurdle for MFE's bid. MFE reported the increased stake following the end of the acceptance period for both offers last Wednesday. Earlier this month ProSiebenSat.1 recommended its shareholders accept the latest public takeover offer from MFE, which values the German group at 1.8 billion euros ($2.10 billion), abandoning its resistance to the Italian group. PPF had been the German company's preferred suitor, but PPF said earlier this month it would not raise its offer after MFE sweetened its bid. MFE has not set a required threshold for its bid, but a majority stake would allow it to consolidate ProSieben into its financial reporting. ProSieben CEO Bert Habets said on Monday that both MFE and PPF had been important shareholders for a long time. "With their offers, they have underscored their long-term investment and commitment to our company," Habets said, opens new tab in a statement, adding that final results of MFE's offer would be formally announced on September 4. ($1 = 0.8562 euros)
The Herald Scotland
19 hours ago
- The Herald Scotland
Perthshire restaurant with rooms adopts 'revolutionary' business model
Unbeknownst to her, the business model was based around 80-90% of the revenue generating from voucher deal companies, an unsustainable business model for a rural business. David Racz, Claire Nicol and Laura Muirhead of Achray House (Image: Black Squid Photography) Since then, Laura has transformed her Perthshire restaurant with rooms, saving it with a 'revolutionary' membership subscription she launched just last year. Working for the past six and a half years to turn the establishment around from its pie and chips offering customers had grown to expect to fine dining has been a challenge, but one she and head chef David Racz have relished. With David's decade of experience working in The Ducks Inn and Martin Wishart and Chez Rous at Graywalls, the duo, alongside general manager Claire Nicol are putting Achray House on Scotland's food map. 'I initially wanted a gastro pub feel to the restaurant because, having lived in London, it's what I loved, but we evolved fully to fine dining in 2022,' said Laura. 'Our style is classic French cooking, and I genuinely believe we are very affordable for the quality we produce. Achray is the home away from home everyone craves and those dining with us for the tasting menu experience all end up conversing over their different tables by the end of the night. 'It is just the three of us, an agency chef and a few housekeeping staff, so it's a very personal experience you get here.' Pictured: Monkfish cheek with blood orange bisque and wakame (Image: Black Squid Photography) Laura admits the energy crisis three years ago almost bankrupted her, but she was determined to make Achray a success and launched the membership subscription that she feels may redefine hospitality and food tourism across the country. Introducing the scheme just 10 months ago, guests can sign up for £195 per couple for 12 months, unlocking unlimited free accommodation at the premises for the year. The only catch? Guests must dine at Achray House during their stay, meaning the venue generates its main revenue through food and drink sales, all while guests benefit from visiting multiple times throughout the year for the price of one overnight. The year-long membership commences when members arrive for their visit after purchasing it, ensuring customers feel they are getting bang for their buck. Read more: Laura said: 'My husband, who lives abroad, specialises in subscription models in his line of work. We launched a VIP members club for just 20 people to get some feedback on the initiative initially and they loved it, so we opened it up to everyone. 'I had a goal of 100 memberships within a year. We launched it last October and have generated 172 already. Guests are asking to be signed up when they are dining in the restaurant. I had two people sign up just this morning. 'People are looking for value and at how they can save money, but still have nice experiences.' Pictured: Dark Chocolate Crémeux, milk sorbet and cocoa nib (Image: Black Squid Photography) But it's not just the free, dog-friendly accommodation guests from Inverness to Manchester are flocking back for, it's the food at the two AA Rosette restaurant that has spurred so many to sign up for the membership. With an affordable a la carte offering served in the 30-cover dining room, a five-course tasting menu priced at £75, exclusive themed Saturday lunch events and a Sunday roast experience from £35 per head, there's plenty for customers to get stuck into. Themes to date have included surf and turf, smokehouse barbecue, Sicilian and seafood, and The Achray's a la carte menu shines a light on David's classic French cooking style paired with his passion for seasonal Scottish produce. It usually features three starters, mains and desserts. Pictured: Achray House in Perthshire (Image: Black Squid Photography) The 46-year-old confirms the average stay for most members is two nights, with a whole host of repeat business rolling in because of the membership perks. She added: 'We've had so many guests return as a result, and because we have different menus and change them so often, we keep it fresh for those dining with us. 'Claire will even organise the dining room in such a way that she will seat guests' tables beside those she believes will get on best. She can read people so well, and it creates this brilliant atmosphere. 'Two Michelin-starred chef, Mark Donald, of The Glenturret's Lalique, even recommends us.' Pictured: An affordable a la carte offering is served in the 30-cover dining room (Image: Black Squid Photography) Laura is currently looking to introduce Hospitality Mondays, opening on one of the industry's traditionally quieter days when most venues are closed to give hospitality workers the opportunity to dine out locally on their days off. 'I'm genuinely surprised at how successful it has been, long may it continue.' she adds.
