U.S. News

Prada in Talks on Possible Buyout: Paper


Clothing tycoon Richard Caring is in talks to buy family-owned Italian fashion house Prada in a deal worth up to 2 billion euros ($2.7 billion), London's Sunday Times reported.

Caring, who owns London's swanky Ivy and Le Caprice eateries, faces competition from at least two private equity groups for the Milan-based chain, the paper said, citing city sources.

Prada was not immediately available for comment. It was not immediately possible to reach Caring.