Prada S.p.A. is set to acquire Versace from Capri Holdings in an all‐cash deal valued at approximately $1.375 billion, subject to regulatory approvals and closing conditions. This strategic acquisition expands Prada’s luxury portfolio in a market currently impacted by tariff-driven volatility.

Prada Group announced the acquisition of Versace in a deal valued at $1.4 billion, with commitments to maintain Versace's creative identity while leveraging its consolidated platform and raising concerns over increased economic concentration.

Prada has been grouped with companies like Starbucks and Kraft Heinz in criticism for not providing sufficient transparency on human rights practices within their supply chains. The Financial Times article highlights concerns that this opacity could be masking labor violations and other human rights abuses.

A coalition of over 175 major investors with $4.5 trillion in assets has publicly challenged Prada, among other companies, for a lack of transparency in disclosing human rights practices within its business and supply chain. The investors argue that Prada's current disclosures do not meet the expected standards for ethical business practices and supply chain transparency.

Global investors, representing over $4.5 trillion in assets, have called on Prada Group—as part of a group including Costco and Starbucks—to address what they describe as inadequate transparency on human rights and supply chain practices.

Prada Group has been among companies such as Starbucks and Kraft to face censure over its lack of human rights transparency, raising concerns about its corporate ethical responsibility in safeguarding labor and human rights practices.

Amid accusations of forced labor in its supply chain, Prada issued a statement affirming its commitment to ethical practices and a zero-tolerance policy on forced labor. However, critics note the company has not disclosed details such as third-party auditing processes, raising concerns over lack of transparency.

Investigative reports allege that workers employed by Prada's suppliers have endured exploitative working conditions including long hours, low wages, and even physical abuse. Historical investigations from 2011 and 2018 detailed such practices, prompting Prada to end relationships with non-compliant suppliers and to launch a social responsibility initiative, though concerns about systemic labor abuses remain.

A report revealed Prada's extremely low score of 5/100 on the KnowTheChain benchmark, highlighting severe labor exploitation and unethical supply chain practices within the luxury brand's operations.

On July 28, 2022, Prada S.p.A.'s Board of Directors approved a comprehensive Human Rights Policy. The document outlines the Group's commitments to uphold human rights and labor practices, including prohibiting child and forced labor, ensuring fair wages, promoting non-discrimination, and supporting trade union rights through robust internal governance and implementation strategies. This policy is part of Prada’s broader sustainability and ethical commitment to protect workers and marginalized communities.

The article examines Prada’s historical association with forced labour practices through its complex global supply chain and highlights the company’s subsequent measures – including the release of a Modern Slavery Statement and the adoption of a Sustainability Policy – intended to safeguard worker rights and improve supply chain ethics.

After facing charges of racism stemming from a racist imagery incident, Prada Group has unveiled a series of diversity initiatives aimed at boosting inclusion within its workforce and the broader fashion industry. The measures include a paid internship program, scholarships to the Fashion Institute of Technology, and a three‐year design lab partnership with Dorchester Industries, targeting support for minority communities.