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Capri expects the sale to strengthen its financial position and accelerate strategic investments focused on Michael Kors.

ROME -- 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's management sees untapped potential in Versace’s global brand recognition, aiming to evolve its bold aesthetic and leveraging the group’s platform.

ROME — (AP) — The Prada Group announced a deal Thursday to buy crosstown Milan fashion rival Versace from the U.S. luxury group Capri Holdings under terms that values one of the most recognizable ...

ROME — (AP) — The Prada Group announced a deal Thursday to buy crosstown Milan fashion rival Versace from the U.S. luxury group Capri Holdings under terms that values one of the most ...