Italian fashion house Prada announced this Thursday the acquisition of 100% of Versace for €1.25 billion. The purchase of the brand founded by Italian designer Gianni Versace, which was previously owned by the Capri Holdings group, was closed for that amount. "We are pleased to welcome Versace to the Prada group and open a new chapter for a brand with which we share an unwavering commitment to creativity, product care, and a strong cultural heritage," said Prada Chairman and CEO Patrizio Bertelli. The company's co-founder, along with his wife, Miuccia Prada, emphasized that the brand "is ready and well positioned to write a new page in Versace's history, build on the group's values, and continue with confidence and rigorous determination."

Being a pop icon is surely the most contradictory thing in the world: everything the icon does makes the news, but no news about her manages to change the image people have created. This is the life story of Donatella Versace, who has recently made headlines because, after 27 years, she has ceased to be the creative director of the firm that bears her name. Just like other icons like Dolly Parton, whose musical work is overshadowed by her unbridled hair. field, or like Cher, whose merits are overshadowed by her surgeries, Donatella's work has always been overshadowed by her ultra-smooth platinum hair and her undisguised addiction to tanning.

The crisis in the luxury sector, with sales plummeting, is forcing most fashion houses to change their creative directors. A real game of musical chairs that, far from being a real transformation in fashion, is nothing more than a face lifting that keeps the same people but moved around. Pretending that everything is changing so that, ultimately, nothing ends up changing. These movements, in some houses, are precipitating the retirement of historical figures, the latest and most famous being that of Donatella Versace after three decades at the helm of the family firm. But what has been the importance of the House of Versace in the world of fashion?

Luxury label Prada is finalising a deal to buy the Versace brand from fashion group Capri Holdings Ltd. for a price of more than 1.5 billion euros, as published Bloomberg This Monday. Both companies could reach an agreement for the acquisition of the brand created by the late designer Gianni Versace this month, according to sources close to the negotiations cited by the publication.