In a major move set to reshape the luxury fashion landscape, Prada has acquired Versace for $1.375 billion from Capri Holdings. The strategic merger unites two legendary Italian fashion houses, signaling a bold step forward for Italian dominance in an industry often led by French giants.

Prada Chairman Patrizio Bertelli emphasized the brand's commitment to preserving Versace's bold legacy while boosting its global platform through Prada's extensive investments and relationships. While Prada has thrived amid a luxury market slowdown, Versace has faced ongoing financial struggles, making this deal a potential turning point for the iconic brand.

The acquisition is expected to enhance Italy's standing in the high-end fashion sector and inject new life into Versace's operations. Industry experts believe the merger could lead to innovative collaborations and expanded market reach, reinforcing Italy’s cultural influence in global fashion. The deal marks a defining moment in luxury fashion history.