Prada buying rival fashion brand Versace in $1.36bn deal
Source: BBC
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 (£1.06bn), the Prada Group said on Thursday."We aim to continue Versace's legacy celebrating and re-interpreting its bold and timeless aesthetic," said Prada chairman Patrizio Bertelli.The Prada Group already owns…
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