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Prada buys Versace in a €1.25 billion deal. Here’s what that means for fashion

By Jye Marshall, Lecturer, Fashion Design, School of Design and Architecture, Swinburne University of Technology

Prada will become the new owners of the Versace brand, under a €1.25 billion (A$2.2 billion) deal.

Versace has recently struggled both financially and in keeping up with the larger luxury fashion houses. Before the sale, Versace was owned by Capri Holdings, which also holds brands including Michael Kors and Jimmy Choo.

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