For decades, the fiercely independent Prada SpA Chairman Patrizio Bertelli talked about the need for Italian fashion houses ...

Prada has just agreed to buy Versace for $1.38 billion, weeks after Donatella Versace, the original owner, stepped down.

Versace owners, the New York-based fashion behemoths Capri Holdings, which owns other brands such as Michael Kors and Coach, ...

The purchase, the largest in Prada’s 112-year history, returns Versace to Italian ownership and could put the company in a ...