Reports: Versace on verge of sale to Michael Kors

National
Italy_Fashion_Versace_03710-159532.jpg78505131

Donatella Versace comes on the catwalk at the end of Versace’s women’s 2019 Spring-Summer collection, unveiled during the Fashion Week in Milan, Italy, Friday, Sept. 21, 2018. (AP Photo/Antonio Calanni)

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).

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.

The Italian company, founded by the late Gianni Versace, declined to comment on the reports.

The brand, which has been run by Versace’s 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.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Video

Now Trending on KRQE.com

Video Forecast

Connor's Sunday Morning Forecast

Thumbnail for the video titled "Connor's Sunday Morning Forecast"
More Weather Video Forecast

Don't Miss

More Don't Miss

The Series Ep2: Social Pressure ➞