Michael Kors takes over fashion icon Versace in $2 billion deal
Michael Kors has agreed to buy Versace in a deal valuing the revered designer at $2 billion.
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michael kors
Versace luxury fashion house ‘to be sold shortly’
MILAN: Italian fashion giant Versace is about to be sold, the country's biggest-selling newspaper said on Monday, citing anonymous sources who suggested the deal could come in the next few hours.
Donatella Versace, the brand's artistic director and vice-president of the group, has called a staff meeting in Milan for Tuesday, according to the Corriere della Sera newspaper.
Celebrity shoemaker Jimmy Choo, luxury jeweller Tiffany & Co and US fashion group Michael Kors Holdings were listed as possible buyers.
The…