Michael Kors to buy Versace for around $2.35 billion-April 2024-www.financetom.com

Michael Kors to buy Versace for around $2.35 billion

News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities

Michael Kors to buy Versace for around $2.35 billion

Sep 24, 2018 10:25 AM

An Italian newspaper reports that the Versace group is on the verge of announcing its sale to an American company for 2 billion euros ($2.4 billion).

Share Market Live

NSE

Corriere della Sera reported Monday, without citing sources, that the announcement could come as early as Tuesday. Bloomberg and Reuters news agencies later reported the buyer would be fashion group Michael Kors, which has been trying to burnish its image and last year bought high-end shoemaker Jimmy Choo for $1.35 billion.

Versace declined to comment on the reports.

The Italian brand, which was founded by Gianni Versace and has been run by his heirs since his murder 21 years ago, had been eyeing a public listing for several years.

Donatella Versace is the brand's creative driver. She presented her latest collection for next spring and summer last Friday during Milan Fashion Week, and was honored on Sunday by the Italian Fashion Chamber.

First Published:Sept 24, 2018 7:25 PM IST

Previous page： Fed Chair Powell says pandemic has had lasting effects on economy Next page： U.S. companies' stock purchases via buybacks, M&A to hit 6-year high in 2024, Goldman says

Comments

Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.

Show More Comments

Related Articles >

Fed Chair Powell says pandemic has had lasting effects on economy

Mar 22, 2024

(Reuters) - Federal Reserve Chair Jerome Powell on Friday opened a Fed Listens event on how Americans are experiencing the economy, saying the pandemic has had lasting effects and that to make good policy the U.S. central bank cannot rely only on macroeconomic data but needs to hear directly from people and businesses. He did not make any remarks about the...

U.S. companies' stock purchases via buybacks, M&A to hit 6-year high in 2024, Goldman says

Mar 22, 2024

(Reuters) - U.S. companies' purchases of domestic equities through more stock buybacks and corporate acquisitions will hit a six-year high of $625 billion this year, about as much as mutual funds and pension houses will offload, Goldman Sachs said. A surge in share buybacks and continued growth in cash mergers and acquisitions (M&A) will be the primary drivers of corporate...

US Dollar Improves Early Friday Ahead of Fed Appearances, State Unemployment

Mar 22, 2024

07:38 AM EDT, 03/22/2024 (MT Newswires) -- The US dollar rose against its major trading partners early Friday, except for a decline versus the yen, ahead of a series of appearances by Federal Reserve officials that compensate for a lack of major US data. Fed Chairman Jerome Powell is scheduled to make opening remarks at a Fed Listens conference at...

US Congress scrambles to pass $1.2 trillion spending bill, midnight deadline looms

Mar 22, 2024

WASHINGTON (Reuters) - The Republican-controlled U.S. House of Representatives and Democratic-majority Senate on Friday will scramble to beat a midnight government shutdown deadline by passing a $1.2 trillion bill keeping the government funded through September. If they succeed, it will end a more-than-six-month battle over the scope of Washington's spending for the fiscal year that began Oct. 1. If they...