Capri jumps after Prada's $1.4 billion deal for Versace

Shares of Michael Kors-parent Capri Holdings CPRI.N jump 4.7% to $17.12 premarket

Prada 1913.F says it will buy Versace from Capri in a deal valuing the iconic brand at $1.38 billion

Versace will become a subsidiary upon closing of the deal, the Italian fashion house says

Transaction is expected to close in the second half of calendar year 2025

Capri had bought Versace for 1.83 billion euros ($2.03 billion) in 2018

Up to last close, CPRI shares down over 22% so far this year

($1 = 0.9011 euros)