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  • Michael Kors set to buy Versace for 2 billion US dollars

    28 days ago - By Fashion United

    Michael Kors Holdings is buying Gianni Versace SpA for 2 billion US dollars, according to news agencies Reuters and Bloomberg, which cite people familiar with the matter. The sources said the Italian fashion house was purchased for about 2 billion US dollars , adding that an official announcement would be made later this week. Neither Versace nor Michael Kors have commented on the reports yet.
    Blackstone reported to be selling its 20 percent stake
    Currently, the Italian label is owned by the Versace family - Donatella Versace, who serves as the company's artistic director and...
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  • Versace Set to Be Sold to Michael Kors for $2 Billion USD

    Versace Set to Be Sold to Michael Kors for $2 Billion USD

    28 days ago - By Hypebeast

    Versace is due to be sold to Michael Kors , according to recent reports. According to Italian newspaper Courier della Serra , Donatella Versace called a staff meeting for Tuesday, when the official announcement would be made. Speaking to the paper, Versace declined to comment on the report.
    The brand is rumored to be selling to Michael Kors or jeweller Tiffany & Co, with a value price of $2 billion USD. The brand had previously sold a 20% stake in 2014 to US private equity group Blackstone. Earlier this year, chief executive Jonathan Akeroyd told Reuters that there was no rush for an...
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  • Versace's sale “imminent”, says Italian newspaper

    Versace's sale “imminent”, says Italian newspaper

    28 days ago - By Fashion United

    The sale of Italian fashion house Versace could be announced “within hours”, according to the Italian newspaper Corriere della Sera, which cites unnamed sources close to the company.
    The newspaper said Donatella Versace, the company's vice-president and artistic director, has called a staff meeting for tomorrow, during which the sale will be announced. Versace declined to comment.
    The company is currently owned by the Versace family - Donatella is the sister of the label's late founder, Gianni Versace. US private equity group
    Blackstone has a 20 percent stake in the business, acquired four...
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