Prada SpA agreed to buy Versace for about $1.38 billion in cash, strengthening its position as Italy’s largest fashion group by adding one of the luxury industry’s best-known brands.

Italian fashion house Prada announced Thursday it had reached a deal with US group Capri Holdings to buy its flashy rival Versace for 1.25 billion euros ($1.38 billion). The acquisition will create a ...

The Italian fashion house was purchased for €1.25 bn from Capri, which is restructuring after a failed merger with Tapestry.

Prada has struck a deal to buy smaller rival Versace from Capri Holdings in a move to unite two of the biggest names in Italian fashion. The deal has an enterprise value of $1.375 billion, Prada said ...

Milan (Italy) (AFP) – Prada said Thursday that it had reached a deal to buy Versace for 1.25 billion euros ($1.38 billion), building a new Italian fashion powerhouse and hoping to insert much-needed ...

The purchase officially brings the brand back into the folds of Italian luxury.

The price Prada has agreed to pay for Versace, which includes debt, is a big discount to the roughly $2.15bn, including debt that US-based Capri, then known as Michael Kors, paid for Versace in 2018 ...

Prada said the 47-year-old Versace brand offered ... “An historic ‘Made in Italy’ brand is Italian again,” Industry Minister Adolfo Urso said.

Prada's Versace deal revives hopes for 'Made in Italy' champion Italy lacks rival to French giants, despite luxury prowess Deal marks strategic shift for Prada under CEO Andrea Guerra MILAN ...

Prada is seeking to expand, having defied a slowdown in luxury demand, while Versace has been operating at a loss. The merger strengthens Italy's hand in the luxury industry led by French ...

“We are delighted to welcome Versace to the Prada Group and to build a new chapter for a brand with which we share a strong commitment to creativity, craftsmanship and heritage,” Prada group ...