Michael Kors intends to purchase Gianni Versace fashion house


This week, the Hong Kong fashion and bags manufacturer Michael Kors Holding may announce a deal to acquire the Italian fashion house Gianni Versace, Bloomberg reports referring to sources familiar with the situation. Michael Kors estimated the Italian fashion house at about 2 billion dollars. As the sources noted, in the event of a deal, the Versace family will continue to play its role in the company. The agency also reports that at the moment it is not known how the Blackstone Group plans to dispose of its 20% stake in Versace if the final sales agreement is reached.

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