Wait, Is Michael Kors Buying Versace?

27 September, 2018, 01:09 | Author: Mary Valdez
  • Models present creations at the Versace show during Milan Fashion Week earlier this month. | Source Wall Street Journal

"While it is true that the enlarged group would be able to make savings on central costs, we don't see the addition of a brand like Versace being about helping to boost the Michael Kors brand", said Saunders.

Others worry that the reported price tag for Versace looks rich. Versace, whose namesake designer was gunned down in 1997 by aserial killer, is a brand that "some perceive as past its peak", said Craig Johnson, president of Customer Growth Partners.

There was no immediate comment from either of the fashion companies. Tapestry, formerly Coach, owns Stuart Weitzman and past year it acquired Kate Spade.

Rumours of an IPO have resurfaced since the company sold a 20 per cent stake to private equity giant Blackstone in 2014.

Michael Kors ($KORS) is reportedly nearing a deal to buy Versace in a deal that would value the storied Italian fashion house at around $2 billion.

A representative for Versace declined to comment on the potential transaction.

Financial Giant PNC To User Ripple's xCurrent Solution To Manage Treasury
More than 35 billion dollars were sent from Saudi Arabia two years ago in outward remittances, according to World Bank . These collaborations are essential in providing the ecosystem in order to facilitate xRapid .

Mohamed Salah wins FIFA Puskas award for goal against Everton last season
France manager Didier Deschamps took home the prize for Coach of the Year after winning last summer's World Cup. All three enjoyed great World Cup campaigns, with Courtois helping Belgium to a third-place finish.

Djokovic hits Federer, pair lose in doubles at Laver Cup
Obviously I wanted to win as much as Roger ". "It's pretty incredible ", Dimitrov told reporters, of the team spirit. McEnroe interrupted saying: "Don't believe a word he's saying, he's trying to get sympathy, that's incredible".

With the Jimmy Choo purchase already showing results for the brand's top line, Kors' ambitions for aggregating various luxury brands under one large successful group continues to take shape.

Shares of Kors fell 7.4 per cent to US$67.32 in mid-morning trading in NY.

In 2016, Versace poached Alexander McQueen's boss Jonathan Akeroyd to help it smarten up for a stock market listing, although that never materialised. Versace has been pushing for an initial public offering, or IPO, but they failed to reach the goal due to a fluctuating market. Donatella serves as creative director, while Santo is chairman.

Versace had revenue of €686m euros and returned to profit in 2017, according to figures provided by the company. In a tribute to Gianni, Donatella Versace brought back the most iconic looks from his collections spanning the 1990s, including silk blouses mixing leopard prints with images of baroque architecture.

Models present creations at the Versace show during Milan Fashion Week Spring 2019 in Milan, Italy, September 21, 2018.


  • Trump attacks Iranian leadership, boasts of accomplishments

    Trump expressed gratitude to Moon for his "dedicated efforts" to reach what he called "a historic milestone in trade". Trump and Rouhani have traded threats since, and in August, the administration reinstated sanctions against Tehran.
    Garoppolo confirmed out for season with knee injury

    Garoppolo confirmed out for season with knee injury

    Garoppolo suffered the injury late in the fourth quarter of Sunday's matchup against the Kansas City Chiefs . The 26-year-old signed a five-year, $137.5 million contract with the team this past offseason.
    Liverpool injury update ahead of Carabao Cup clash with Chelsea

    Liverpool injury update ahead of Carabao Cup clash with Chelsea

    Liverpool have had a slightly better start compared to Chelsea because they are yet to drop a single point. "He trains fantastic. The league cup might provide Sarri with the opportunity to integrate some of the fringe players into his style, however.
  • Beluga whale spotted in River Thames outside London

    Beluga whale spotted in River Thames outside London

    The marine mammal has a distinctively round, melon-shaped head and beluga whales can dive up to 2,300ft (700m) blow the surface. In 2006 a northern bottlenose whale shocked Londoners as it swam up the River Thames as rescuers tried in vain to save it.
    Thousands without power in Montreal as Ontario storm spreads to Quebec

    Thousands without power in Montreal as Ontario storm spreads to Quebec

    Prime Minister Justin Trudeau said the federal government is prepared to assist those whose lives have been turned on end. Ontario Premier Doug Ford pledged the province's full support to Ottawa residents recovering from Friday's tornadoes.
    Judge rules Cosby a 'sexually violent predator'

    Judge rules Cosby a 'sexually violent predator'

    She said she first met Cosby in 2002, when she served as director of operations for Temple University's women's basketball team. Bill Cosby leaving the courthouse yesterday, about to enjoy his last night of house arrest before years of incarceration.
  • Former Chelsea Player Hails London rival's manager

    Former Chelsea Player Hails London rival's manager

    Liverpool lead the table with six wins out of six while Chelsea and Manchester City have 16 points from six games. Wolves won automatic promotion from the Championship to the Premier League at the end of the 2017-18 campaign.
    Paul Pogba: Manchester United must 'attack, attack, attack' more at Old Trafford

    Paul Pogba: Manchester United must 'attack, attack, attack' more at Old Trafford

    Mourinho and his side will be action this evening when Manchester United host Derby County in an EFL Cup clash at Old Trafford . The Red Devils lost to Chelsea FC in the FA Cup final last term to end Mourinho's second season without silverware.
    Bill Cosby sentenced to prison for sexual assault

    Bill Cosby sentenced to prison for sexual assault

    Meanwhile, Cosby's lawyers had pushed for house arrest, citing their client's blindness, advanced age and declining health. In her victim statement, Andrea wrote, " Bill Cosby took my handsome , healthy young spirit and crushed it".
  • Iran army parade attacked by gunmen in Ahvaz

    Iran army parade attacked by gunmen in Ahvaz

    Semi-official news agency Mehr said further shooting broke out as some of the attackers who managed to escape were being chased. The Islamic Revolutionary Guards play a major role in Iran's regional interests in countries such as Iraq, Syria and Yemen.
    Brett Kavanaugh's confirmation chances just took a hit

    Brett Kavanaugh's confirmation chances just took a hit

    Ford is unwilling to testify under oath in front of the Senate Judiciary committee about the long all alleged incident. The president has indicated he wants Ford to testify, saying, "I really want to see her, to see what she has to say".
    Weather Authority: Rain showers likely on Tuesday

    Weather Authority: Rain showers likely on Tuesday

    Scattered showers and isolated thunderstorms will be possible during the day, especially during the afternoon. Patchy fog is expected to develop Tuesday afternoon, and highs should reach the mid 60s, forecasters said.


Mourinho tells Pogba he won't captain Manchester United again
Mourinho's strained relationship with the French World Cup victor is now at an all-time low after he took aim at the £89m star. But in the fifth minute of added time , substitute Fellaini headed in a Diogo Dalot cross to force the shootout.

Pliskova beats Osaka on home soil to win Pan Pacific Open
The quarterfinalist at the US Open, Pliskova has reached the finals with a three-set victory in all her matches in Tokyo . I was expecting a tough one. "I didn't want to try to overpower her because I think she just has more power than me".

Andrea Constand Is Set To Deliver Impactful Statement At Bill Cosby Sentencing
Surrounded by her family, Constand addressed the court in a loud, clear voice for roughly a minute as Cosby, 81, sat nearby. Constand testified that Cosby knocked her out with pills, then molested her during an encounter at his home in 2004.

Delta online systems back to normal after outage
Delta employees are now working diligently to accommodate customers whose travel plans have been affected. Delta is telling those passengers the issue is with the airline's computer system but did not elaborate.

With job status in limbo, Rod Rosenstein to meet with Trump
Sanders said they would meet on Thursday when Trump returns to Washington from United Nations General Assembly events. Deputy Attorney General Rod Rosenstein expected to leave his job on Monday, according to multiple reports .

Judge Rules That Bill Cosby Is a "Sexually Violent Predator"
He said he understood, though he did inquire if he would need to personally notify Constand of his whereabouts. Green, Cosby's attorney, asked for a sentence of house arrest and said that Cosby was not a danger to anyone.

Donald Trump says second Brett Kavanaugh accuser was ‘inebriated’ and ‘messed up’
At stake is Republicans' effort to gain control of the court, possibly for decades to come, and Democrats' effort to block them. Trump, speaking after addressing the United Nations General Assembly, sought to cast doubt on Ramirez's allegations.

Texan who published 3-D guns plans jailed on sex assault charge
Wilson, who lives in Austin, owns Defense Distributed , which sells blueprints for producing plastic firearms using 3D printers. Marshals brought Wilson, 30, back to Texas to face charges that he paid a girl $500 for sex in Austin, where he lives.

EPL: Man United players 'happy' as Mourinho drops Pogba as captain
Frank Lampard said he was shell-shocked after his Derby County side knocked Manchester United out of the Carabao Cup on penalties. United made nine changes from the draw with Wolves but still fielded 10 internationals and took an early lead through Juan Mata .

Dozens of protesters arrested outside Collins’ DC office
But she indicated that she couldn't comment on the complaint or an investigation that Yale is conducting on the matter. I understand that some students want to go to D.C.to protest or otherwise engage with the Kavanaugh hearings.