The parent company of the Italian luxury fashion brand Prada completed the acquisition of longtime rival Versace on Tuesday.
Gianni Versace founded his namesake brand in 1978, and when he died in 1997, his sister Donatella took over creative direction. In March, Donatella was replaced by Dario Vitale, formerly of Miu Miu — itself a subsidiary of Prada — and appointed Versace’s chief brand ambassador. Then, in April, the Prada Group said it was purchasing Versace.
