The acquisition could help Prada tap into Versace’s high-glam market, which in turn will improve Prada’s competitive position against luxury giants like LVMH and Kering. More importantly, it keeps an Italian Brand in Italian hands — something that hasn’t always been the case.

Luxury fashion group Prada's leading shareholder Patrizio Bertelli said on Wednesday he was "very cautious" about the possibility of making acquisitions, although the group is ready to look at potential opportunities.

The Prada Group on Tuesday posted double-digit growth for the fourth consecutive year, bucking the luxury sector slide amid talk of a possible Versace acquisition. The group, which owns the Prada and Miu Miu fashion brands along with Church’s footwear,

Prada's CEO indicated on Tuesday the Italian fashion group was at least looking at potential mergers and acquisitions following reports linking it with possible deals for fellow luxury brands Versace and Jimmy Choo.

LONDON — Theater is often in the business of making old stories seem new again. In an unseasonably sunny London, the West End is flush with revivals of classic plays headlined by A-listers — more on that in an upcoming column — and with musicals based on novels,

Prada has purchased the entire building at 150 New Bond Street in London, home to Miu Miu, which is undergoing refurbishment.

While neighboring luxury fashion houses face declining sales amid an industry-wide downturn, Miu Miu reports a record year with 93% retail growth, and Prada's sales chart 4% higher.

Focusing again on Mexico, the project, which leverages fashion as a catalyst to promote women’s empowerment and sexual reproductive health, involves 46 female artisans in the state of Querétaro.

Store closures are also hurting mall owners and undermining projections for an end to the multi-year property market slump.

Lure Fishbar has been a staple in New York’s Soho neighborhood for 20 years, and local Burns is campaigning to save it from being turned into a Prada eatery. The legendary filmmaker’s TV producer daughter, Lilly, introduced him to the restaurant and “it became mine,” he recently told Timm Chiusano on his “Longwinded by Nature” podcast.

Prada opened its runway show during Milan Fashion Week with its take on the little black dress, because, in the words of Miuccia Prada "we are in a very black moment.''

A report said Prada and Capri Holdings had agreed a 1.5 billion euro price tag for Versace, sending stock in both companies higher.