Prada is nearing the final stages of negotiations to acquire Versace for 1.5 billion euros. The luxury fashion giant Prada is reportedly close to finalizing discussions with Capri Holdings to purchase Versace. According to Bloomberg, Prada will pay 1.5 billion euros (1.6 billion dollars) for Versace if the deal goes through. It was mentioned that Prada and Capri could reach an agreement for Versace in March. Prada also owns brands like Jimmy Choo and Michael Kors. Initial talks between the two companies were said to be progressing positively. However, it was noted that the timing of the deal or the value of the company could change, and there is a possibility that the negotiations may not succeed. Capri Holdings had purchased Versace for 1.83 billion euros in 2018. The owner of the Italian company, Miuccia Prada, had announced last week that several fashion companies were potentially interested in buying Versace.