The Prada Group closed the purchase of Milan fashion rival Versace in a $1.375 billion cash deal that puts the fashion house known for its silhouettes under the same roof as Pradaβs "ugly chicβ aesthetic and Miu Miuβs youth-driven appeal.
The highly anticipated deal is expected to relaunch Versaceβs fortunes, after middling post-pandemic performance as part of the U.S. luxury group Capri Holdings.
Prada said in a one-line statement that the acquisition had been completed after receiving all regulatory clearances.
Continue Reading on Daily Sabah
This preview shows approximately 15% of the article. Read the full story on the publisher's website to support quality journalism.