Prada has just agreed to buy Versace for $1.38 billion, weeks after Donatella Versace, the original owner, stepped down.

Prada will officially buy Versace. On April 10, Prada Group announced plans to purchase the Italian fashion house for $1.375 billion from Capri Holdings, adding the Gianni Versace-founded line to its group of luxury brands.

The price Prada has agreed to pay is a big discount to the roughly $2.15 billion including debt that US-based Capri, then known as Michael Kors, paid for Versace in 2018 when it was sold by the Versace family and Blackstone.

Prada is getting a discount but not a good deal. After weeks of talks with Michael Kors-owner Capri , the Hong Kong-listed Italian group agreed to pay 1.3 billion euros ($1.4 billion) for Versace. Given Capri paid $2 billion for the brand famous for its Medusa logo in 2018,

Prada is reportedly set to acquire Versace from Capri Holdings for $1.38 billion, scoring a $200 million discount on the previous valuation of the deal due to global trade uncertainties. Capri, which is grappling with debts and weak market demand,

Prada will buy rival fashion house Versace for $1.4 billion in a deal uniting the two biggest names in Italian luxury, the brands announced Thursday. The deal is part of a series of shakeups at Versace,

On Thursday, in the biggest luxury deal of the year, Prada announced it was buying Versace for 1.25 billion euros ($1.38 billion) from Capri Holdings, a beleaguered New York group that at one point styled itself as the American answer to the great fashion groups of France.

Prada has agreed to buy its smaller rival Versace in a billion dollar deal to unite two of the biggest designer fashion labels. The deal to unite the two Italian brands has an estimated value of $1.36bn (£1.

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