Prada Finalizes $1.4 Billion USD Acquisition of Versace

SummaryPrada finalized the purchase of Versace for approximately $1.4 billion USD, capitalizing after the rival Tapestry deal was blocked by antitrust regulatorsLorenzo Bertelli will become Executive Chairman, taking over leadership after Donatella Versace stepped down as creative chiefThe strategic acquisition was rooted in the brand's low financial risk and world-leading global brand awarenessThe fashion world has been permanently reshaped as the Prada Group completed its major acquisition...