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Prada Group announced the purchase of Versace fashion house on Thursday from US luxury group Capri Holding in a cash deal valued at €1.25 billion euros ($1.4bn.) Versace has been owned since ...

ROME — The Prada Group announced a deal Thursday to buy Italy’s Versace from the US luxury group Capri Holdings under terms that value the fashion house at 1.25 billion euros ($1.4 billion).

Versace has been owned since 2018 by Capri Holding, a multinational fashion group founded in 1981 by American designer Michael Kors. At the time, Capri Holding paid $2 billion (€1.84bn ...

Later in February, it was confirmed that Prada Group initiated a full review of Versace and was considering a bid for the brand. In March, Business of Fashion reported that Prada had agreed to a ...