Michael Kors takes Versace


Michael Kors takes Versace

Reports have it that Versace, which is 80 per cent family owned,  is in the throes of being acquired by Michael Kors for an eye-watering £1.5bn. For Michael Kors this will form part of a new stable of brands which includes Jimmy Choo which is acquired last year for £896 million. Blackstone holds 20 per cent of the Versace business.

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