The European Commission has officially cleared Prada’s €1.25 billion ($1.47 billion) acquisition of Versace, removing the final hurdle for one of fashion’s most closely watched deals. Green Light from BrusselsOn Tuesday, the EU’s executive arm confirmed it had no antitrust concerns with the luxury merger, noting that Prada and Versace’s combined market footprint was too limited to stifle competition. The clearance paves the way for a shakeup in the high-end fashion landscape. “The commission concluded that the transaction would not raise competition concerns, given the companies’ limited market positions resulting from the proposed deal,” the regulator stated. For Capri, the divestiture means streamlining its portfolio; for Prada, it represents an aggressive move to reinforce its dominance in the global luxury sector.