Prada Group says it’s purchased fashion rival Versace in deal worth $2.2 billion

The Prada Group has announced it has officially purchased Milan fashion rival Versace in a €1.25 billion ($2.2 billion) deal that puts the fashion house known for its sexy silhouettes under the same roof as Prada’s “ugly chic” aesthetic and Miu Miu’s youth-driven appeal.

The highly anticipated…