EU green-lights Prada’s acquisition of Versace

Brussels – The European Commission has given the green light to Prada’s purchase of Versace. The EU antitrust authority has given the go-ahead to the deal that brings Givi Holding, which controls the well-known Italian haute couture brand, into the Prada Group. The transaction mainly concerns the design, production, and distribution of luxury goods, with the EU antitrust regulator finding that the merger between the two brands does not raise competition concerns, given the companies’ limited market positions resulting from the proposed transaction.