Prada struck a $1.375 billion deal to buy smaller rival Versace from Capri Holdings on Thursday, including its debt, in a move that unites two of the biggest names in Italian fashion. Prada is ...

Prada said it would acquire Versace from fashion ... tie-up would hurt competition in the market for affordable luxury handbags. The scuttled Tapestry deal along with Versace’s poor performance ...