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Evening Standard
Evening Standard
Anna Wise

Prada agrees to buy Italian fashion rival Versace in £1.1bn deal

Prada Gianni Versace Donatella Versace Michael Kors Jimmy Choo Milan Euro
Prada has agreed to buy Versace in a 1.25 billion euro (£1.1 billion) deal (Alamy/PA) -

Prada has agreed to buy Versace in a 1.25 billion euro (£1.1 billion) deal that will see two of Italy’s biggest luxury fashion brands come together.

The Milan-based Italian fashion house said it was acquiring 100% of the brand from Michael Kors and Jimmy Choo owner Capri Holdings.

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