The Prada Group has agreed to buy rival Versace from the U.S. luxury group Capri Holdings in a deal valuing the Milan fashion house at 1.25 billion euros ($1.4 billion.

Donatella Versace has been replaced as creative director of the fashion house founded by her late brother Gianni Versace.

The Prada Group has posted double-digit growth for the fourth consecutive year, bucking the luxury sector slide amid talk of a possible Versace acquisition.

Donatella Versace strutted a confident collection brimming with house codes during Milan Fashion Week amid speculation that the fashion house is on the market.

Elton John says he struggled to watch his new musical because he has “lost his eyesight” after contracting an infection.

Donatella Versace slammed the Italian government for what she described as anti-gay policies in a heartfelt and personal speech that referenced her late brother, Gianni Versace, while receiving a fashion award this weekend.

Decamping from her usual base in Milan to show her wares in Los Angeles — only three days before the Oscars — Donatella Versace says she was inspired by the energy, glamour and power of Hollywood.

A new documentary that is expected to head to a streaming service later this year recounts the birth of Italian ready-to-wear, giving Giorgio Armani due credit for putting Milan on the fashion world map.

Denim, fringe and chunky rubber sliders.

Outside Milan’s luxury runway shows on Friday, two Ukrainian students held aloft signs reading “No World War III” and “No Putin” to draw attention to the war in their homeland and to urge the West to take harsher measures.

Donatella Versace pumped energy into Milan Fashion week with a star-filled runway and front row, and collection strong on the fashion house’s codes: bright colors, safety pins and especially silky foulards.

Models wear creations as part of the Francesco Liberatore 2021 women's spring-summer ready-to-wear collection during the Milan's fashion week in Milan, Italy, Friday, Sept. 25, 2020. (AP Photo/Antonio Calanni)

Models wear creations as part of the Francesco Liberatore 2021 women's spring-summer ready-to-wear collection during the Milan's fashion week in Milan, Italy, Friday, Sept. 25, 2020. (AP Photo/Antonio Calanni)MILAN – Milan Fashion Week continued in disjointed, discombobulated style for the third day on Friday, veering from the physical to the digital, with an uneasy eye fixed on the economic damage wrought by coronavirus. Bright prints were taken from artworks she created during Italy’s strict lockdown — some of which were also included in the auction. The lockdown, Risso said, instantly interrupted the Marni creative process, which he described as “very sensorial and tactile,” characterized by pieces passing from one hand to the other, while inspiring new ways of creating. Somehow the anarchy about it, the devotion to freedom and self-expression has been central to the work," Risso said.

Toward the end of the Versace event, photos of Lopez in the iconic creation flashed across the giant screens. "It just goes to show you the power of fashion and the power of those types of moments," Lopez said of the gown's pop-cultural effect. Since then, Lopez has been a devoted Versace wearer, donning the designer's exquisite creations, as well as new versions of her iconic GRAMMYs dress. Kevin Mazur/WireImageFor more fashion moments from J.Lo, watch below. RELATED CONTENT:Jennifer Lopez Makes Fashion Statement, Rocks Two Giant Hats in One DayJennifer Lopez Gets Emotional During Met Gala Fitting Following Versace Tailor Luigi Massi's DeathJennifer Lopez Says Google Images Was Created Because of Her Iconic Green Versace Dress

Saylor Phair/CNN(CNN) - A leading Chinese brand ambassador has quit Versace, claiming that one of the brand's T-shirts broke Beijing's "one China" policy. The company, and designer Donatella Versace, have both since apologized for the "unfortunate" error. "It is the duty of all Chinese citizens to uphold the "One China" principle and adamantly safeguard national unification," said the statement, as translated by Chinese state-run newspaper, the China Daily. Versace issued an official apology in response to the incident and announced that the shirt is no longer for sale. The issue of Chinese sovereignty has reached fever pitch in recent months in the wake of widespread anti-Beijing protests in Hong Kong.

Elizabeth Hurley's son, Damian, channeled one of his mom's most iconic looks during a high-profile event in London on Thursday night. The sleek ensemble was reminiscent of the jaw-dropping deep-V safety pin Versace number that the stunning actress wore when she accompanied Hugh Grant to the 1994 premiere of Four Weddings and a Funeral. Damon BakerIn the magazine, Elizabeth revealed that the original design still fit, but that it didn't mean that she would wear it today, calling its new version more demure." RELATED CONTENT:Elizabeth Hurley Says She Was 'Unprepared' for Reaction to Her Versace Pin Dress as She Recreates the Look'The Royals' Star Elizabeth Hurley Posts Sexy Braless Selfie -- See the Pic! Elizabeth Hurley Stuns in Blue Bikini While Soaking Up the Maldives Sun