Prada completes multi-billion Versace takeover | 7NEWS

9 months ago The News Room

Prada has completed its multi-billion dollar acquisition of rival Italian fashion house Versace after a six-month regulatory approval process. The purchase brings two of Italy’s most culturally significant luxury brands under the same ownership, with Versace having been put up for sale by Capri Holdings in February following financial difficulties after the pandemic. Prada plans to revitalise the Versace brand and return it to its Italian manufacturing roots.

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