Fashion giant Prada has ordered a review of Versace as it evaluates a potential bid for the Italian brand, which is currently owned by global luxury group Capri Holdings, according to a report. Milan-based Prada has emerged as a rare winner in the luxury sector as other fashion houses have suffered from a sales slump,

Prada SpA is working with advisers to evaluate the Versace brand as it weighs a bid for the Italian fashion company owned by Capri Holdings Ltd.

Capri Holdings (NYSE:CPRI) rose 7% in premarket trading on a report that Prada (OTCPK:PRDSY) is evaluating a possible bid for the Versace brand. Prada has started a full review of Versace after gaining access to the Italian fashion company's latest financial and sales results,