Prada buys Versace in €1.25bn deal uniting Italy’s biggest fashion brands

Prada has secured Versace at a 180m discount amid market turmoil and after months of speculation

Prada has agreed to buy the Versace fashion brand for 1.25bn ($1.38bn) from the fashion conglomerate Capri Holdings.

It comes after months of speculation about a potential deal to combine the two Italian fashion houses and, more recently, rumours that the acquisition was set to collapse after market upheaval in response to President Trump's tariff policies.