Wall Street Journal is reporting that Michael Kors Holding Ltd. is close to a deal to buy Gianni Versace fashion house. Very interesting.
https://www.wsj.com/articles/michae...n-1537790108?mod=breakingnews#comments_sector
Michael Kors Near Deal to Buy Versace for Around $2.35 Billion
A deal could be announced in coming days
By
Matthew Dalton and
Ben Dummett
Sept. 24, 2018 7:55 a.m. ET
Michael Kors Holdings Ltd. KORS -0.04% is close to a deal to buy Italian fashion house Gianni Versace SpA for around €2 billion ($2.35 billion), people familiar with the matter said—a deal that would put one of the glitziest names in high fashion in the hands of a budding American conglomerate better known for affordable luxury.
A deal could be announced in coming days, the people said.
It is unclear whether the Versace family, which has controlled the brand for decades, would remain as minority shareholders in the business or if Donatella Versace would stay on as creative director. Private-equity giant Blackstone Group , which owns 20% of Versace, is selling its stake in the business as part of the deal, one person said.
In recent years, Versace has struggled to grow sales, despite a luxury-fashion boom led by Chinese consumers.
The Italian newspaper Corriere della Sera first reported the deal.
Write to Matthew Dalton at [email protected] and Ben Dummett at [email protected]
https://www.wsj.com/articles/michae...n-1537790108?mod=breakingnews#comments_sector
Michael Kors Near Deal to Buy Versace for Around $2.35 Billion
A deal could be announced in coming days
By
Matthew Dalton and
Ben Dummett
Sept. 24, 2018 7:55 a.m. ET
Michael Kors Holdings Ltd. KORS -0.04% is close to a deal to buy Italian fashion house Gianni Versace SpA for around €2 billion ($2.35 billion), people familiar with the matter said—a deal that would put one of the glitziest names in high fashion in the hands of a budding American conglomerate better known for affordable luxury.
A deal could be announced in coming days, the people said.
It is unclear whether the Versace family, which has controlled the brand for decades, would remain as minority shareholders in the business or if Donatella Versace would stay on as creative director. Private-equity giant Blackstone Group , which owns 20% of Versace, is selling its stake in the business as part of the deal, one person said.
In recent years, Versace has struggled to grow sales, despite a luxury-fashion boom led by Chinese consumers.
The Italian newspaper Corriere della Sera first reported the deal.
Write to Matthew Dalton at [email protected] and Ben Dummett at [email protected]
I might still pick up a few pre-Kors from my favorite boutique, but then ... 
