{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/64d53bc8af8fd800117b9642/67f84e6cbb8fcfee75f86a64?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"Prada to buy Versace for nearly $1.4 billion","description":"<p>Prada has agreed to buy its smaller rival Versace in a billion dollar deal to unite two of the biggest designer fashion labels.</p><p><br></p><p>The deal to unite the two Italian brands has an estimated value of $1.36bn (£1.06bn), the Prada Group said on Thursday.</p><p><br></p><p>\"We aim to continue Versace's legacy celebrating and re-interpreting its bold and timeless aesthetic,\" said Prada chairman Patrizio Bertelli.</p><p><br></p><p>The Prada Group already owns several other designer labels including Miu Miu and luxury footwear brand Church's.</p><p><br></p>","author_name":"Daily SumUp"}