Prada announced it’s buying Versace for 1.25 billion euros ($1.38 billion) from Capri Holdings, according to The New York Times ‼️👀 Andrea Guerra, Prada Group’s chief executive, said the acquisition would add, “a new dimension, different and complementary,” to the Group. “Versace has huge potential,” he added, while noting, “the journey will be long.” Prada plans to fund the acquisition with debt, borrowing more than one billion euros. The plan was approved by both companies’ boards and they expect the deal to close in the second half of the year, pending approval by regulators 🤝 What do y’all think about this ⁉️ - #PRADA #Versace #FashionNews #DesignerFashion #Hypebeast