“Major League Baseball is deeply saddened by the passings of Octavio Dotel, Tony Blanco, Nelsy Cruz, and all the victims of last night’s tragedy in Santo Domingo,” MLB Commissioner Rob Manfred said in a statement. “We send our heartfelt condolences to the families and friends of all those who have been affected and to our colleague Nelson and his entire family. The connection between baseball and the Dominican Republic runs deep, and we are thinking of all the Dominican players and fans across the game today.”
Anok Yai attends The Metropolitan Museum of Art’s Costume Institute benefit gala celebrating the opening of the “Superfine: Tailoring Black Style” exhibition on Monday, May 5, 2025, in New York. (Photo by Evan Agostini/Invision/AP)Anok Yai attends The Metropolitan Museum of Art’s Costume Institute benefit gala celebrating the opening of the “Superfine: Tailoring Black Style” exhibition on Monday, May 5, 2025, in New York. (Photo by Evan Agostini/Invision/AP)
Doja Cat attends The Metropolitan Museum of Art’s Costume Institute benefit gala celebrating the opening of the “Superfine: Tailoring Black Style” exhibition on Monday, May 5, 2025, in New York. (Photo by Evan Agostini/Invision/AP)Doja Cat attends The Metropolitan Museum of Art’s Costume Institute benefit gala celebrating the opening of the “Superfine: Tailoring Black Style” exhibition on Monday, May 5, 2025, in New York. (Photo by Evan Agostini/Invision/AP)Teyana Taylor attends The Metropolitan Museum of Art’s Costume Institute benefit gala celebrating the opening of the “Superfine: Tailoring Black Style” exhibition on Monday, May 5, 2025, in New York. (Photo by Evan Agostini/Invision/AP)
Teyana Taylor attends The Metropolitan Museum of Art’s Costume Institute benefit gala celebrating the opening of the “Superfine: Tailoring Black Style” exhibition on Monday, May 5, 2025, in New York. (Photo by Evan Agostini/Invision/AP)Dua Lipa attends The Metropolitan Museum of Art’s Costume Institute benefit gala celebrating the opening of the “Superfine: Tailoring Black Style” exhibition on Monday, May 5, 2025, in New York. (Photo by Evan Agostini/Invision/AP)
Dua Lipa attends The Metropolitan Museum of Art’s Costume Institute benefit gala celebrating the opening of the “Superfine: Tailoring Black Style” exhibition on Monday, May 5, 2025, in New York. (Photo by Evan Agostini/Invision/AP)
Ugbad Abdi attends The Metropolitan Museum of Art’s Costume Institute benefit gala celebrating the opening of the “Superfine: Tailoring Black Style” exhibition on Monday, May 5, 2025, in New York. (Photo by Evan Agostini/Invision/AP)said the 47-year-old Versace brand offered “significant untapped growth potential.’’
“This is exactly the strength for our group. There are no overlaps in terms of creativity, in terms of customer,″ said Lorenzo Bertelli, Prada’s chief marketing officer, who is being groomed to one day take over the business that his parents — Miuccia Prada, the group’s creative force and largest shareholder, and Patrizio Bertelli, its chairman and executive director — have turned into a global fashion juggernaut.“We are buying a brand with huge potential, with a very recognizable aesthetic,” Lorenzo Bertelli said, underlining that the Versace brand name recognition, putting it among the top 10 in the world, far outweighs its business performance.
The final value of the deal will be adjusted at closing, which is expected in the second half of the year, the Prada Group said. It will be funded by 1.5 billion euros in new debt and has been approved by the Prada and Capri Holdings board of directors.Prada Chief Executive Andrea Guerra said the deal was aimed at building a “sustainable revenue growth” and boosting the brand’s identity, and was not about squeezing synergies. Prada’s statement underlined that Versace will “maintain its creative DNA and cultural authenticity, ” while benefitting from its “industrial capabilities, retail execution and operations expertise. ”