The acquisition could help Prada tap into Versace’s high-glam market, which in turn will improve Prada’s competitive position against luxury giants like LVMH and Kering. More importantly, it keeps an Italian Brand in Italian hands — something that hasn’t always been the case.

An acquisition of Versace by Italian luxury group Prada would create a company with a broader base that is more resistant to business cycles, but reviving the targeted brand could take years and hit short-term profits.

The Prada Group on Tuesday posted double-digit growth for the fourth consecutive year, bucking the luxury sector slide amid talk of a possible Versace acquisition. The group, which owns the Prada and Miu Miu fashion brands along with Church’s footwear,

Prada's CEO indicated on Tuesday the Italian fashion group was at least looking at potential mergers and acquisitions following reports linking it with possible deals for fellow luxury brands Versace and Jimmy Choo.

Prada is reportedly nearing a $1.6 billion deal to acquire Versace from Capri Holdings Ltd. aiming to compete with luxury giants LVMH and Kering.

A report said Prada and Capri Holdings had agreed a 1.5 billion euro price tag for Versace, sending stock in both companies higher.

(Reuters) - Italian luxury group Prada is moving closer to a deal to buy Versace from upmarket fashion group Capri Holdings after agreeing to a price of nearly 1.5 billion euros ($1.6 billion), Bloomberg News reported on Sunday.

Versace is on everyone’s table,” said Miuccia Prada, the owner of the eponymous brand founded by her grandfather.

PRADA is moving closer to a deal to buy Versace from Capri Holdings after agreeing to a price of nearly 1.5 billion euros (S$2.1 billion), according to sources familiar with the matter. Read more at The Business Times.

The Prada Group has posted double-digit growth for the fourth consecutive year, bucking the luxury sector slide amid talk of a possible Versace acquisition ROME -- The Prada Group on Tuesday ...

Prada seeks to expand despite luxury demand slowdown Versace could take years to restructure, affect short-term Prada profits Prada has skills to address Versace's shortcomings MILAN, March 4 ...

Prada has posted double-digit growth for the fourth consecutive year and is believed to be in talks to acquire the Versace brand, as the fashion house looks to extend its reach