The Italian luxury company Prada may be on its way to acquire the competitor Versace, according to sources to the news agency Bloomberg.
The company, which was once founded by Gianni Versace but is now owned by British Capri Holdings, made an 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. The deal was however stopped due to competition reasons.
Prada, which is listed on the Hong Kong Stock Exchange, has at the same time been one of the winners of the past year as several companies in the sector have been getting tougher due to decreased demand.
