Michael Kors to buy Versace for around $2.35 billion-January 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： Zoomed Out | Critical Minerals — why India's current strategy to become self-reliant is so vital Next page： India looking into 'freak' incidents like damage to Sikkim's Chungthang dam: RK Singh

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 >

Zoomed Out | Critical Minerals — why India's current strategy to become self-reliant is so vital

Nov 29, 2023

Internationally, there are genuine security concerns related to the criticality in building more diverse and dependable value chains for critical minerals, about their environmental and social sustainability, and technological challenges. While, India has taken the right steps for creating an ecosystem for accelerated exploration and production of critical and new age minerals, observes FICCI Mining Committee Co-Chair Pankaj Satija.

India looking into 'freak' incidents like damage to Sikkim's Chungthang dam: RK Singh

Oct 18, 2023

Stressing on the need to have quick ramp up and ramp down energy sources for grid balancing, the minister described hydroelectric power's role as essential in the path to energy transition as wind energy is intermittent and the sun doesn't shine 24×7.

In fight to curb climate change, a grim report shows world is struggling to get on track

Nov 14, 2023

The State of Climate Action report released on Tuesday by the World Resources Institute, Climate Action Tracker, the Bezos Earth Fund and others looks at what's needed in several sectors of the global economy power, transportation, buildings, industry, finance and forestry to fit in a world that limits warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit) over pre-industrial times, the goal the world adopted at Paris in 2015. The globe has already warmed about 1.2 degrees Celsius (2.2 degrees Fahrenheit) since the mid-19th century.

JPMorgan has a new way to gauge its green progress

Nov 15, 2023

As the largest energy banker, JPMorgan is a frequent target of criticism over Wall Street’s role in the climate crisis. At the same time, the bank is a leading US arranger of green bonds, making it vulnerable to Republicans seeking to protect the fossil fuel industry.