Prada has finalised its acquisition of rival Italian fashion house Versace in a multi-billion dollar deal following a six-month regulatory approval process. Versace had been struggling with financial difficulties after the pandemic, prompting parent company Capri Holdings to put the luxury brand up for sale in February. Prada plans to revitalise Versace and return it to its Italian manufacturing roots, bringing two of Italy's most culturally significant luxury brands under the same ownership.See omnystudio.com/listener for privacy information.

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