The Latest Breaking News from Luxury

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Italian fashion house Prada announced Thursday it had reached a deal with US group Capri Holdings to buy its flashy rival Versace for 1.25 billion euros ($1.38 billion).

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 final value of the deal will be adjusted at closing, expected in the second half of the year

The deal was almost scuppered by the tariff chaos of recent weeks but closed today

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 huge potential,” said Andrea Guerra, CEO of Prada, upon the deal’s closing.

After months of speculation, Prada's acquisition of Versace might finally happen—but the tariffs impact the deal's price.

After decades of riding the sales gravy train, legacy premium brands face a harsh new reality in China. BMW, Mercedes-Benz, and Porsche had a rough 2024, and the start of this year has been even more brutal. The posh trio saw double-digit declines in the first quarter, with Zuffenhausen taking…

Globally the elite Mayfair address moved from fourth to third place behind only New York’s Fifth Avenue and Madison Avenue

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