Prada finalises purchase of fashion rival Versace

The Prada Group closed the purchase of Milan fashion rival Versace in a US$1.375-billion cash deal that puts the fashion house known for its sexy silhouettes under the same roof as Prada’s “ugly chic” aesthetic and Miu Miu’s youth-driven appeal. The highly anticipated deal is expected to relaunch Versace’s fortunes, after middling post-pandemic performance, as part of the US luxury group Capri Holdings.



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