Prada’s Heir Positioned to Restyle Versace

Prada struck a $1.4 billion deal to buy Versace intending to stop the brand from turning to stone (Versace’s logo is a Medusa head). And Prada’s giving the job of reviving Versace to Italian fashion royalty: Lorenzo Bertelli, designer Miuccia Prada’s son and heir to her eponymous empire. Bertelli, who’ll become Versace’s executive chairman once the purchase is completed, told Bloomberg yesterday that the brand is bigger than its revenue, which has been bleak lately. Capri Holdings, which is selling Versac ...