Luxury fashion group Prada's CEO Andrea Guerra has flown to New York, a source close to the matter told Reuters, as the group is in talks to buy Capri Holdings-owned Versace in a deal that would unite two of the biggest names in Italian fashion.

Capri Holdings, owner of the Versace, Jimmy Choo and Michael Kors brands, has revealed that Donatella Versace will take on the role of brand ambassador from 1 April 2025. She will step down from her position as chief designer of the Versace label,

Donatella Versace, the visionary who steered the Versace brand through triumph and tragedy, has stepped down as chief creative officer, Versace’s U.S. owner Capri Holdings announced on Thursday, March 13.