Deals
Prada Buys Versace for $1.38 Billion to Form Italian Fashion Giant
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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.
The Milan-based company, controlled by billionaire designer Miuccia Prada and her husband Patrizio Bertelli, is buying Versace from Capri Holdings Ltd., which paid €1.8 billion ($2 billion) for the brand in 2018.