The price Prada has agreed to pay is a big discount to the roughly $2.15 billion including debt that US-based Capri, then known as Michael Kors, paid for Versace in 2018 when it was sold by the Versace family and Blackstone.

Prada struck a $1.38 billion deal to buy smaller rival Versace from Capri Holdings on Thursday in a move that unites two of the biggest names in Italian fashion. Prada is seeking to expand, having defied a slowdown in luxury demand,

Prada Group has swooped in to acquire iconic Italian fashion house Versace for a cool $1.4 billion in a dazzling cash deal with Capri Holdings. As announced on Thursday, this landmark move brings Vers