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The Guardian - UK

Lifestyle

Chloe Mac Donnell

Prada buys Versace in €1.25bn deal uniting Italy’s biggest fashion brands

Donatella Versace Miuccia Prada Luxury CAPRI Miu Miu Patrizio Bertelli Luna Rossa

Parisian store logos of Prada and Versace, in gold uppercase lettering — The two Italian giants, Prada and Versace, are merging, in what Prada’s chair calls ‘a new page in Versace’s history’ Photograph: Stéphane de Sakutin/AFP/Getty Images

Prada has agreed to buy the Versace fashion brand for €1.25bn ($1.38bn) from the fashion conglomerate Capri Holdings.

It comes after months of speculation about a potential deal to combine the two Italian fashion houses and, more recently, rumours that the acquisition was set to collapse after market upheaval in response to President Trump’s tariff policies.

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