People walk past a Prada store in Galleria Vittorio Emanuele II, in Milan, Italy, September 27, 2025. REUTERS/Yara Nardi

MILAN (Reuters) -The European Commission said on Tuesday it has given its green light to the acquisition of fashion group Versace by Italy's Prada.

Earlier this year Prada struck a $1.38 billion deal to buy smaller rival Versace from Capri Holdings.

The European Commission said the deal poses no competition concerns.

(Reporting by Elisa Anzolin, editing by Giulia Segreti)