Wait, Is Michael Kors Buying Versace?

Designer Michael Kors

An acquisition by Michael Kors would be a landmark deal for the fashion industry, with an American company taking over an Italian icon.

On Monday, outlets including Bloomberg and The Wall Street Journal reported that Michael Kors was close to acquiring the Italian luxury designer for roughly $US2 billion.

Another measure both brands should take is also separating Michael Kors (the founder) from this process (at least publicly) to help in quelling some of the negative sentiment surrounding the move.

Handbag maker Michael Kors Holdings is nearing an agreement to buy fashion house Gianni Versace.

"Why just WHY would you sell Versace to a brand like MICHAEL KORS", says another.

However it looks like Michael Kors shareholders weren't happy about the rumoured sale as shares in the brand fell by 8.7 percent following news of the possible transaction.

Again, Michael Kors is aiming to bolster its roster of luxury brands including those in the fashion, footwear, and accessories categories.

Paul Gosar's Siblings Support Rival In TV Advertisements For David Brill
Lies and distortions do reveal much about the character of the congressman of Arizona's 4th congressional district, however'. Gosar is one of President Donald Trump's biggest defenders, but his siblings do not appear to share his political views.

President Trump: Sexual assault allegations against Brett Kavanaugh 'totally political'
Women's March, a group that grew out of a January 2017 demonstration against Trump, was one of the organizers of the protests. He was not actually at the party, but "independently recalled" numerous same details Ramirez provided, per The New Yorker .

Returns of Oren Burks, Aaron Jones replenish Packers’ depth
Expect the Packers to run the ball more often Sunday than they did in their first two games, especially if they get an early lead. Unless Adrian Peterson turns back the clock, this game will be a Quarterback duel and determined by pass defense.

Versace, famous for its baroque designs which regularly feature at A-list fashion events, was persuaded to sell the business by USA private equity group Blackstone, who own 20 per cent of the company.

Donatella Versace, sister of late founder Gianni, became the fashion house artistic director and vice-president after Gianni was was murdered in Miami Beach in 1997.

"Blackstone wasn't going to put any more money into it".

The Versace family owns the rest of the company.

Versace was the brainchild of Gianni Versace, who was born in Calabria to a dressmaker mother and presented his first signature collection in 1978, with his brother Santo taking care of the label's business arm. A spokesman for Blackstone had no comment.

He added that the biggest challenge for Versace will be to re-energise the brand and make it relevant to younger generations, particularly in Europe and Asia, while keeping a smooth and productive relationship with the family.

Versace fans are revolting after reports that the iconic Italian designer is about to be bought by Michael Kors.

Related news:

Hot News

isis-killer-beheading-video-story-top Kirk intensifies back into a Tropical Storm
Sep 27, 2018 - 01:03
Since then, Kirk's leftovers have generally stuck together as they have continued to truck westward toward the Caribbean. As of the 11 AM advisory from the National Hurricane Center , Kirk has maximum sustained winds of 50 miles per hour .

isis-killer-beheading-video-story-top Jose Mourinho hints he'll play strong Manchester United squad vs Derby County
Sep 26, 2018 - 01:56
Paul Pogba got up and left after Jack Marriott put Derby in front with five minutes remaining at Old Trafford. And the 55-year-old coach informed the Man United players that Pogba will never be captain again.

isis-killer-beheading-video-story-top Modric wins world player of year
Sep 26, 2018 - 01:53
Olympique Lyonnais women's coach Reynald Pedros won The Best Women's Coach after a French league and Uefa Champions League double.

isis-killer-beheading-video-story-top Brett Kavanaugh: New Sexual Assault Allegation Against Supreme Court Nominee Surfaces
Sep 26, 2018 - 01:27
Jeff Flake, a Republican on the committee, has expressed concerns over the sexual assault allegations. He added that her account is not credible because she was "totally inebriated and all messed up".

isis-killer-beheading-video-story-top STORM ALERT | Severe weather risk now lower for St. Louis Tuesday
Sep 26, 2018 - 00:45
Ending out the week on Friday and Saturday looks to be more like fall weather, especially with lower humidity on Saturday ! Behind the front overnight, lows will be in the upper-40s, which is actually close to normal for this time of year.

isis-killer-beheading-video-story-top Major powers, Iran meet to salvage nuclear deal without U.S.
Sep 26, 2018 - 00:41
Meanwhile, the EU has vowed to stick with the deal and updated legislation to protect European companies from future sanctions. Haley told ABC's This Week that if Rouhani asked for a meeting "I think the president would strongly consider it".

isis-killer-beheading-video-story-top Anti-Kavanaugh Lawyer Claims Hearing Would Impede 'The Truth'
Sep 25, 2018 - 00:45
Ford, and afford her the right to be heard , Feinstein chose to sit on the letter until after Judge Kavanaugh's hearings. In his letter on Monday, Kavanaugh said of the allegations against him: "These are smears , pure and simple".

isis-killer-beheading-video-story-top Tropical Storm Kirk forms in the Atlantic
Sep 25, 2018 - 00:43
The NHC also noted there is a disturbance located between the United States and Bermuda, and it is forecast to move to the west. Kirk was packing sustained winds of 35 miles per hour and its westward motion was expected to accelerate through Tuesday.

isis-killer-beheading-video-story-top Iran holds United States , regional allies accountable for Ahvaz deadly terror attack
Sep 25, 2018 - 00:41
Following the attack, Iranian Foreign Minister Javad Zarif also held regional USA allies responsible in a statement on Twitter. But the move turned out to be a false flag, with Mr Rouhani later pinning the blame on neighbours much closer to home.

isis-killer-beheading-video-story-top Power returning after Environment Canada confirms two Ottawa tornadoes
Sep 25, 2018 - 00:33
He has compared the damage to the city's power grid as being on the magnitude of the debilitating ice storm of 1998. Meantime, hydro crews were working to untangle and fix fallen power lines and restore electricity to the region.

isis-killer-beheading-video-story-top ISIS media release video claiming to show Iran military parade attackers
Sep 25, 2018 - 00:24
Iran declared Monday a national day of mourning. "We will punish every single one of the terrorists for their actions", he vowed. Jokar added, "What is clear is that the terrorist will receive a crushing response for the terrorist attack in Ahvaz".

isis-killer-beheading-video-story-top Woods headed for victory, Rose is top challenger
Sep 24, 2018 - 01:14
Denny McCarthy, who has already earned enough money to secure a return to the PGA Tour, was one shot back. Rose won't be in the final group, but he has plenty on the line even if he doesn't catch Woods.

isis-killer-beheading-video-story-top 1.7 million chickens drowned in Florence flooding
Sep 24, 2018 - 01:02
Human and animal waste is mixing with the swirling floodwaters, which have killed about 1.7 million chickens on poultry farms. Todd Tremain needed tarps to cover up spots where Florence's winds ripped shingles off his roof.

isis-killer-beheading-video-story-top Christine Blasey Ford to testify against Supreme Court nominee Brett Kavanaugh
Sep 24, 2018 - 01:01
Ford, compare it to everything in the record and make a decision", he won't vote against Kavanaugh based on Ford's testimony. It was unclear whether Grassley would permit more negotiations Saturday, with patience among Republicans is running thin.

isis-killer-beheading-video-story-top Iran Revolutionary Guards threaten to avenge military parade attack
Sep 24, 2018 - 00:59
In the aftermath, paramedics tended to the wounded as soldiers, some bloodied, helped their comrades to ambulances. Iran's Revolutionary Guard is a paramilitary force answerable only to Supreme Leader Ayatollah Ali Khamenei.