The Italian luxury company Prada has come one step closer to buying its competitor Versace. The two companies have agreed on a purchase price of 1.5 billion euros, equivalent to 16.7 billion Swedish kronor, according to sources for the news agency Bloomberg.
According to Bloomberg's sources, the deal may be finalized this month.
The company, which was once founded by Gianni Versace but is now owned by British Capri Holdings, made a operating loss of 21 million dollars in the last quarter and has been on its way to being sold to the American holding company Tapestry, owner of American brands such as Kate Spade and Coach. However, the deal was stopped due to competition reasons.
Prada, which is listed on the Hong Kong Stock Exchange, has simultaneously been one of the winners of the past year as several companies in the sector have been struggling due to decreased demand.
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