The Prada Group has announced its acquisition of the Italian fashion house Versace from Capri Holdings, a U.S. luxury group, in a deal valued at $1.4 billion. At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Prada Group announced a deal Thursday to buy Italy's Versace from the U.S. luxury group Capri Holdings under terms that value the fashion house at 1.25 billion euros ($1.4 billion). Prada said the addition of Versace's "highly recognizable aesthetic

The Prada Group has announced the purchase of the Versace fashion house from the US luxury group Capri Holding in a cash deal valued at $1.4 billion.