In the wake of the Versace spring / summer 2019 fashion show, certain rumors have reported that Michael Kors officially signed the contract to acquire the iconic Italian fashion house in a deal worth about $ 2 billion.
From now on, the Versace family will no longer own the label of the same name for the first time since Gianni Versace founded the brand almost 40 years ago.
Till now, the matriarch Donatella Versace, and the Versace family owned 80% of the company after selling 20% to the US private equity group Blackstone in 2014, which ceded its stake with the Versace’ sale.
However, the Versace family will still have a role in the company, but the Italian label will join the footwear brand Jimmy Choo, acquired by Kors last year for 1.2 billion dollars.
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