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Prada buys Versace in €1.25bn deal uniting Italy’s biggest fashion brands
Prada has secured Versace at a €200m discount amid market turmoil, uniting two Italian fashion powerhouses
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. While Capri failed to create an American luxury group to rival fashion companies such as LVMH and Kering, the acquisition hints at an attempt by Prada to strengthen its position as an Italian powerhouse. Miuccia Prada, who holds a doctorate in political science and, prior to joining the family business in 1970 was a Communist, is often referred to as “fashion’s intellectual”.
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