India, Dec. 3 -- The Prada Group closed the purchase of Milan fashion rival Versace in a $1.375 billion cash 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 deal is expected to relaunch Versace's fortunes, after middling post-pandemic performance as part of the U.S. luxury group Capri Holdings. Prada said in a one-line statement that the acquisition had been completed after receiving all regulatory clearances. Capri Holdings said the money would be used to pay down debt. P12...