Happy Friday everyone!

Prada is making headlines with its $1.38 billion acquisition of Versace, bringing the iconic fashion house back under Italian ownership. In sports, Saudi Prince Abdullah is returning to the pitch with a $266 million investment fund aimed at European and North American football clubs. Meanwhile, the UAE and India have signed eight strategic agreements spanning logistics, healthcare, and education—marking a new chapter in their growing economic partnership.

Let’s dive in!

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Prada Agrees To Acquire Versace For $1.38 Billion, Reclaiming Italian Ownership

📰 What is it about?

• Prada SpA has agreed to acquire Versace for $1.38 billion in cash, marking the biggest acquisition in its 112-year history.

• The deal will see Versace return to Italian ownership after being acquired by Capri Holdings Ltd. in 2018 for $1.8 billion.

• The transaction is expected to close in the second half of this year, according to both companies.

💡 Why it matters?

• The acquisition strengthens Prada’s position as Italy’s largest fashion group, helping it better compete with global giants like LVMH and Kering SA.

• The move could offer Versace a fresh turnaround opportunity after Capri’s efforts failed to significantly elevate the brand.

• It signals continued confidence in luxury despite global market volatility, including uncertainty triggered by U.S. tariff policies.

• The deal enhances Prada’s and Versace’s long-term ambitions in the Middle East, where both brands already have deep-rooted partnerships.

🔜 What’s next?

• Prada is expected to continue its regional expansion in the Middle East through its joint venture with Al Tayer Insignia, strengthening retail footprints.

• Versace’s Palazzo Versace Dubai, managed by Monther Darwish, and its partnership with Chalhoub Group, are likely to be strategic assets under the new ownership.

• Industry watchers will look to see how Prada integrates Versace’s bold aesthetic into its portfolio and whether further acquisitions follow in the luxury space.

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📰 What is it about?

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💡 Why Choose ODEUM?

At ODEUM, we provide end-to-end media solutions to elevate your brand across multiple platforms.

• Video Production: From AI-powered videos to immersive live streaming and CGI storytelling.

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• Original Content Development: Conceptualizing and producing shows, short films, and series that engage and inspire.

• Studio Rental: Fully equipped production spaces designed for seamless content creation, offering state-of-the-art filming, podcasting, and photography setups to bring creative visions to life.

🔜 What’s next?

• Have a project in mind? Let's make it happen!

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Markets

Saudi Prince Returns To Football With $266 Million Investment Fund

📰 What is it about?

• Prince Abdullah bin Mosaad Al Saud, former owner of English club Sheffield United, is launching a SAR1 billion ($266 million) football investment fund.

• His United World Group will contribute 20% of the fund and focus on acquiring new clubs, primarily in Europe and North America.

• The prince made the announcement during the Sports Investment Forum in Riyadh, signaling a strategic return to football after recent divestments.

💡 Why it matters?

• Prince Abdullah’s return comes after selling Sheffield United to U.S.-based COH Sports for an estimated €105 million ($116 million).

• His previous tenure saw the Blades achieve three promotions to the Premier League, multiple relegations, and cup runs — all during turbulent financial times including COVID-related losses.

• United World has already exited clubs in France, India, and the UAE, as part of a broader restructuring, but still owns Beerschot in Belgium.

• The move aligns with Saudi Arabia’s broader sports investment strategy, following the Public Investment Fund’s 2021 acquisition of Newcastle United.

🔜 What’s next?

• The fund aims to apply “lessons from past experiences” to new acquisitions, especially in England, where the prince maintains a strong interest.

• Clubs in North America are also on the radar, expanding Saudi influence into emerging football markets.

• Prince Abdullah addressed misconceptions about Gulf investment in football, emphasizing strategic value over cheque-book ownership.

• With Gulf states like UAE (Man City) and Qatar (PSG) already embedded in the sport, Saudi Arabia’s next wave of investments is poised to reshape the European football ownership landscape.

UAE And India Sign Eight Strategic Agreements To Deepen Economic Partnership

📰 What is it about?

• The UAE and India signed eight preliminary agreements across sectors like logistics, health care, education, maritime services, and infrastructure during the official visit of Sheikh Hamdan bin Mohammed to India.

• These pacts aim to enhance bilateral cooperation and build on the momentum of existing frameworks such as the Comprehensive Economic Partnership Agreement (CEPA) and the bilateral investment treaty.

• Sheikh Hamdan, Crown Prince of Dubai, emphasized both nations’ shared commitment to innovation, opportunity, and sustainable growth.

💡 Why it matters?

• The deals reinforce economic and strategic ties between two of the fastest-growing economies in the Global South.

• Dubai Chambers signed MoUs with major Indian industry bodies (CII, FICCI, IMC) to support two-way business expansion and promote joint participation in trade fairs, missions, and exhibitions.

• DP World’s agreements with Indian firms like Rites and Cochin Shipyard aim to strengthen the UAE-India Virtual Trade Corridor and enhance collaboration in multimodal logistics, ports, and rail connectivity.

• Education and healthcare are also in focus, with the Indian Institute of Management Ahmedabad set to launch a Dubai campus, and Dubai Health announcing a non-profit UAE-India Friendship Hospital.

🔜 What’s next?

• IIM Ahmedabad’s Dubai campus will open its one-year MBA program this year, with a permanent campus targeted for 2029.

• Ship repair clusters and offshore marine engineering projects will be jointly developed by Drydocks World and Cochin Shipyard in Kochi and Vadinar.

• The UAE-India Friendship Hospital is expected to set a precedent for future collaborative health initiatives.

• These agreements are expected to drive private sector engagement, attract FDI, and create resilient trade routesbetween the two nations, with continued focus on digital infrastructure and sustainability.

🔍In other news…

• With $1 Trillion at Stake, UAE Urges Families to Plan Succession.

• First Abu Dhabi Bank Loses Two Senior Executives, Adding to Staff Churn.

• Eco-friendly app developed by Abu Dhabi students scoops $12,500 Middle East Earth Prize.

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