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Prada inks deal to buy Versace

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Two of the most well-known luxury brands are combining through an acquisition.

Prada agreed to buy Versace for nearly $1.4 billion from New York-based Capri Holdings.

Versace is set to join the Prada Group's holdings that include namesake Prada, Miu Miu and pastry brand Marchesi.

Read more from The New York Times.

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