Michael Kors is reportedly zeroing in on a $2 billion bid for Versace (KORS)

pulse

September 24, 2018 1:46 PM

Michael Kors is close to acquiring Versace, the iconic Italian designer, for $2 billion. A deal would allow the Versace family to maintain a role in the company after the deal, according to Bloomberg.

Models present creations at the Versace show during Milan Fashion Week Spring 2019 in Milan, Italy.

The Versace family helped the brand return to profit last year and will continue to have a role in the company after the deal, the report said.
Michael Kors purchased the British brand Jimmy Choo last year for $1.2 billion.

Check out the Bloomberg story here.

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