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Evening Standard
Evening Standard
Business
Jonathan Prynn

Prada buys luxury fashion rival Versace in £1.1 billion 'Made in Italy' deal

Prada Donatella Versace Luxury Italy
Dua Lipa models a Versace tote bag - (Instagram/@dualipa)

Prada has snapped up rival luxury label Versace in a Euros1.25 billion (£1. 1 billion) takeover deal.

The elite fashion house acquired Versace from US based fashion conglomerate Capri Holding in a “Made in Italy” deal that looked destined to become a victim of this month’s financial market chaos.

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