BUSINESS Michael Kors agrees to buy Versace for 1.83 billion euros

BUSINESS

Michael Kors agrees to buy Versace for 1.83 billion euros

AFP

19:53, September 25, 2018

Global fashion brand Michael Kors has agreed to buy Italian luxury label Versace for 1.83 billion euros ($2.12 billion), the pair announced Tuesday.

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Photo: VCG

"Michael Kors Holdings Limited, a global fashion luxury group, announced today that a definitive agreement has been signed to acquire all of the outstanding shares of Italian luxury fashion house Gianni Versace... for a total enterprise value of 1.83 billion euros," a statement said.


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