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

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.

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