New York-listed Capri could reportedly agree to sell the brand back into Italian ownership this month

Prada is in talks to buy the Versace fashion brand from the US investor Capri Holdings for a price that could reportedly reach nearly €1.5bn (£1.2bn).

Milan-based Prada and the New York-listed Capri could reach a deal for Versace this month, Bloomberg reported, although the talks could still fall apart.