#Prada struck a $1.375 billion deal to buy smaller rival #Versace from #CapriHoldings on Thursday, including its debt, in a move that unites two of the biggest names in #Italian fashion. Prada is seeking to expand, having defied a slowdown in luxury demand, while Versace has been operating at a loss in the last few quarters. The merger strengthens Italy’s hand in a luxury industry led by #French conglomerates, the biggest being #LouisVuitton owner LVMH. via cnn • nathan.berganza