Italian fashion giant Versace, the long-held family business known for its flashy, sexy designs and Medusa head logo, will now become part of Prada, its larger rival and polar opposite in terms of style.
The 1.25 billion euro acquisition, announced Thursday, aims to breathe new life into Versace, whose highs and lows have included the 1997 murder of its founder, Gianni Versace, and the stewardship of the brand's legacy by his sister, Donatella.
