Where there's a will, there's a way. That's the message from Prada and Versace to fashion's dealmaking market.
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"Prada took the risk because they want to solidify their presence as the luxury giant in Italy," said attorney Clara Feldman, chair of the luxury brands practice at Blank Rome, who works on many real estate transactions. "I think it was a great marriage for the two brands."
And despite all the upset in financial markets and worries - even panic in some quarters - about tariffs, Feldman said the market for high-end real estate is still going strong.
"It's similar to COVID-19," she said. "We have to deal with it. We might have some struggles, but my advice is to grab the market, grab the real estate. Start developing the brand and I think you'll shine in the end. We're gonna rebound and everyone wants to be in the hot markets - California, New York, Texas."
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"How Prada, Versace Overcame Market Chaos to Reach a $1.4B Deal," by Evan Clark was published in Women's Wear Daily on April 11, 2025.
