Prada completes acquisition of flashy rival Versace

Italian fashion group Prada announced on Tuesday it had completed its acquisition of smaller rival Versace, announced earlier this year for 1.25 billion euros (now $1.45 billion). Prada Group said in a statement that the deal with Capri Holdings, the US group which owned Versace, had “received all required regulatory clearances”. Lorenzo Bertelli — the

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