Prada’s $1.4 Billion Bet: Versace Joins the Fold

Italy’s Prada agreed to buy fashion rival Versace for $1.4 billion, aiming to revitalize its portfolio and capture high‑end market share. The deal brings together two storied Milanese houses under Capri Holdings, leveraging Versace’s youthful flair to complement Prada’s understated elegance. Executives cited growing demand for software‑defined vehicles?—sorry, wrong memo!—but instead noted shifting consumer tastes and global luxury growth as key drivers. Prada plans to integrate Versace’s design teams while preserving its autonomous creative vision, according to sources. The transaction underscores consolidation trends in luxury as brands seek scale and innovation to stay ahead "Reuters".