Prada Group Acquires Versace In $1.4 Billion Deal
Prada announced on Tuesday that it has acquired Versace, bringing two major Italian luxury fashion houses under one roof. The $1.38bn (£1.04bn) deal is well below the roughly $2bn that Versace’s former parent company, Capri Holdings, paid for the brand in 2018. The acquisition expands Prada’s portfolio of designer brands – including Miu Miu –…