Style
Prada Nears Approval of Versace Deal Despite Tariffs
Prada has negotiated for months to buy the fashion house founded by Gianni Versace in the 1970s.
Photographer: Eric Thayer/BloombergPrada SpA is nearing final approval to acquire struggling luxury brand Versace for around €1.25 billion ($1.4 billion) from Capri Holdings Ltd. despite the tariff-induced volatility, according to people familiar with the matter.
The board of the Milanese company, controlled by billionaire designer Miuccia Prada and her husband Patrizio Bertelli, is meeting Wednesday to sign off on the transaction, said the people, who asked not to be identified because talks are private.