Is Michael Kors buying Versace?
According to industry whispers, yes
According to Business of Fashion, Michael Kors Holdings Ltd. is on the brink of buying Italian label Versace for a whopping USD$2 billion (roughly Dhs7.3 billion). Few specifics are known about the deal however it is assumed that the Versace family would remain active in the company in the case of a buy-out.
It would be an interesting mash-up for design aesthetics, given that the bold and brash Versace woman is distinctly different to the all-American Kors customer. However this could be the start of something wonderful...
More news is expected next week so be sure to watch this space.