MILAN - Prada has struck a deal to buy smaller rival Versace from Capri Holdings to unite two of the biggest names in Italian fashion. The deal has an enterprise value of $1.375 billion ...

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).

In a sartorial merger that blends sensual sex appeal with the intellectual uniform, Prada has officially purchased Versace for €1.25 billion (approximately $1.4 billion). What is arguably the ...