In a deal valued at 1.25 billion euros, Prada Group has agreed to purchase Italy’s Versace from Capri Holdings, adding the iconic fashion house to its portfolio alongside Prada and Miu Miu. The acquisition is expected to bring significant growth opportunities for Versace, with the deal set to close in the second half of the year and funded by 1.5 billion euros in new debt. Versace will maintain its creative identity while benefiting from Prada’s operational expertise and industrial capabilities, following a recent restructuring that saw Dario Vitale appointed as creative director.
Full Article
Port Hedland earthquake: 2.2 magnitude quake recorded on Wednesday night
A magnitude 2.2 earthquake occurred south of Port Hedland on July 30 at 10:30 PM, recorded at a depth of 10km, following a 4.8 magnitude quake in Wyalkatchem earlier that day. Additionally, a powerful 8.8 magnitude earthquake struck near Russia’s Kamchatka Peninsula, triggering tsunami warnings across the Pacific region. Want More Context? 🔎
Read more