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Podcast: レアジョブ英会話 Daily News Article Podcast
Episode: Prada finalizes purchase of fashion rival Versace for $1.4 billion, launching new era
Description: The Prada Group has closed the purchase of Milan fashion rival Versace in a $1.375 billion cash deal that puts the fashion house known for its sexy silhouettes under the same roof as Prada’s “ugly chic” aesthetic and Miu Miu’s youth-driven appeal. The highly anticipated deal is expected to relaunch Versace’s fortunes after middling post-pandemic performance as part of the U.S. luxury group Capri Holdings.
Prada said in a one-line statement that the acquisition had been completed after receiving all regulatory clearances. Capri Holdings, which owns Michael Kors and Jimmy Choo, said the money would be used to pay dow...