Prada is currently in negotiations to acquire Versace in a deal that could amount to approximately €1.5 billion. The Italian luxury fashion house is reportedly evaluating acquisitions as the luxury market experiences a slowdown, according to its CEO. This potential acquisition comes amid challenges faced by other luxury brands, including Salvatore Ferragamo, whose shares have plummeted due to ongoing turnaround struggles. The luxury sector is under scrutiny as companies like Chiara Ferragni's brand report significant financial losses, with over €10 million in losses leading to the depletion of their assets. The upcoming assembly meetings for Ferragni's businesses are expected to shed light on their future direction.