Prada Group says it has purchased fashion rival Versace in a deal worth nearly $1.4 billion – AP News
Lead: The Prada Group announced Tuesday in Milan that it has completed the purchase of rival fashion house Versace for €1.25 billion (nearly $1.4 billion), after securing all regulatory clearances. The acquisition moves the 47-year-old label from U.S. owner Capri Holdings into Prada’s portfolio alongside Miu Miu and Church’s. Lorenzo Bertelli, Prada’s heir and current … Read more