Versace Sold For 2.12 Billion Dollars

Versace has been sold for 2.12 Billion Dollars to Michael Kors Ltd.

According to Bloomberg Michael Kors Holdings Ltd is about to shake up the fashion world with this new acquisition.

Versace however still owns 80% of the company and they will still have a role in design.Donatella Versace will still serve as the creative director.

There are no reports confirming why Versace was sold but this isn’t the first luxury brand Michael Kors has acquired, he’s also purchased high end shoe brand #JimmyChoo for $1.2 billion.

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