<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The Prada Group has announced it has officially purchased Milan fashion rival Versace in a €1.25 billion ($2.2 billion) deal that puts the fashion house known for its sexy silhouettes under the same roof as Prada's "ugly chic" aesthetic and Miu Miu's youth-driven appeal.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The highly anticipated deal is expected to relaunch Versace's fortunes, after middling post-pandemic performance as part of the US luxury group Capri Holdings.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><em><span>More to come.</span></em><span></span></div></div>