MICHAEL KORS TO BUY VERSACE FOR $2 BILLION USD

According to Italian newspaper Courier della Serra, Donatella Versace has called for a meeting with her team for tomorrow where it will be announced that Michael Kors will be acquiring the iconic fashion label. The current rumors are that Versace will be sold to either Michael Kors or Tiffany & Co for a reported $2 billion. Versace has previously sold a 20% stake in 2014 to US private equity group Blackstone.

Advertisements