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Italy's Prada agrees to buy rival Versace for 1.25 bn euros

Prada, Versace logos outside the fashion house and luxury goods Prada in Paris on December 19, 2017. [AFP]

Italian fashion house Prada announced Thursday it had reached a deal with US group Capri Holdings to buy its flashy rival Versace for 1.25 billion euros ($1.38 billion).

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