Reported 8 days ago
The Prada Group has announced the acquisition of the Italian fashion house Versace from the U.S. luxury group Capri Holdings for a deal valued at $1.4 billion. The purchase is seen as a complementary addition to Prada's portfolio and offers significant growth potential for Versace, which has struggled under Capri Holdings since its purchase in 2018. The deal is expected to be finalized in the second half of the year and will be funded by new debt.
Source: YAHOO