Saturday 15 December 2018
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todayonline - 3 month ago

Michael Kors set to snap up Italy s Versace - sources

LONDON - U.S. fashion group Michael Kors KORS.N has agreed to take control of Versace in a deal that could value one of Italy s most prized designers at $2 billion (1.52 billion pounds), sources familiar with the matter said on Monday. Budding luxury conglomerates, including Michael Kors U.S. rival Tapestry TPR.N , owner of Coach and Kate Spade, are trying to make in-roads into an industry still dominated by European players such as Louis Vuitton owner LVMH LVMH.PA . Michael

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