1430 GMT - Prada's $1.38 billion acquisition of Versace from U.S. conglomerate Capri seeks to expand the Italian group's top line rather than to pursue a cost-cutting exercise, Prada CEO Andrea Guerra says. "This is a revenue project, not a cost project," Guerra says in a call with analysts after the deal. There might be some cost synergies and the company will take advantage of opportunities to share resources and gain efficiencies where possible, he says. Prada shares in Hong Kong closed up 4.9% before the news of the deal. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
April 10, 2025 10:31 ET (14:31 GMT)
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