He is also of the view that the branding of Versace should not falter as a result of the transaction due to its boldness and links to high-fashion.
But word that a deal is close sent Kors shares down nearly 9 per cent to as low as US$66.33 in NY on Monday, the biggest intraday drop since May 30. And it comes as the Michael Kors business still hasn't been turned around, despite some progress made.
Models present creations at the Versace show during Milan Fashion Week Spring 2019 in Milan on Friday.
Marketing has reached out to Versace, Michael Kors and Blackstone for comment.
An Italian newspaper reports that the Versace group is on the verge of announcing its sale to an American company for 2 billion euros, or about $2.4 billion.
Reacting to the potential sale, Graham Hitchmough, chief operating officer at Bonsey Design, said that the potential sale of Versace to Michael Kors just represents the latest in a wave of consolidation within the fashion industry.
London-based Kors past year snapped up shoemaker Jimmy Choo Plc for about £896 million ($1.2 billion), expanding beyond its namesake brand.
Pogba wants to see United let off the leash at home However, this only accounts for a fraction of the times he has lost the ball and shows that his risks are not coming off. We are at home, they are three points that we should get. "'Big Pogoodmorning everyone hope u get it twisted".
French luxury group LVMH, led by billionaire Bernard Arnault, took full control of Christian Dior, in a €12bn deal that reunites the fashion house with the perfume and other Dior brands.LVMH, owns Dior perfumes and beauty after a deal in the 1960s to raise capital for the then-struggling brand.
"They didn't feel the need to invest so much money into another Italian fashion brand".
Blackstone Group LP owns 20 percent of Versace, which sells leopard-print sweatshirts for 2,100 euros ($2,470) and 995-euro tartan-covered sneakers.
Gianni Versace founded his company in 1978 in Milan, building it into an worldwide powerhouse by the time that he was shot at the age of 50 by Andrew Cunanan, a serial killer who murdered at least four other people, in 1997.
Currently, the Versace family - including Donatella Versace, who became the brand's creative director after her brother Gianni's death in 1997 - owns 80% of the company.
He added that the biggest challenge for Versace will be to re-energise the brand and make it relevant to younger generations, particularly in Europe and Asia, while keeping a smooth and productive relationship with the family. CEO Jonathan Akeroyd stated that the group boasted sales of $760 million in 2016 and turnover is expected to exceed by more than a billion in the "short term".
Arnold responded to Downey accusing her of lying about the incident. "I'm filing police report and suing you for defamation". "I'm waiting for LAPD ", Arnold tweeted last night , soon after the incident took place.
The Newspaper added: "When Kipchoge actually enters a race, he sends ripples through the field before his races even begin". As he he's done in his other major victories, Kipchoge smiled through any signs of pain by the time he hit 40K in 1:55:32.
Fortunately, we have very strong young players: "Loftus-Cheek, Hudson-Odoi, Ampadu. and I'd like to give them the right space". The foundations are being laid for one of the English Premier League's most exhilarating and competitive title races.
At least 29 people, including children, were killed and 70 others injured in an assault on the Iranian military on Saturday. The ceremony in front of the Sarallah Mosque was attended by thousands of people including soldiers, clerics and officials.
Amazon is mulling a plan to open as many as 3,000 cashierless food stores over the next three years, according to a media report. Whatever Amazon ultimately plans in rolling out Amazon Go, retailers of all stripes are already keeping a close watch.
Coca-Cola says it's eyeing the growing market for health drinks infused with cannabidiol - or CBD - but has made no decisions. Molson Coors Brewing Co.is starting a joint venture with Quebec's Hydropothecary Corp.to develop cannabis drinks in Canada.
If that happens, he will be obliged to register as a sex offender for life, instead of for a shorter timeframe decided by a judge. Bill Cosby was found guilty of sexual assault in April after a jury heard allegations from Andrea Constand .
Taylor Foy, spokesman for Republicans who control the committee, said in a written statement, "We are happy that Dr. If her case is not credible, Fleischer said, then Republicans have a "clear shot" at confirming Kavanaugh .
If the new devices are made and sold by Amazon, they would be in direct competition with similar devices made by Sonos and Garmin. Regardless, for Amazon, getting Alexa into your microwave is about more than just cooking burritos and popcorn more convenient.
The Duke and Duchess of Sussex reportedly spent a three-day weekend in Amsterdam for the launch of the new Soho House there. Place-making will explore the settlement of communities and Encounter will focus on trade and exchange in Pacific cultures.
Police said Guyger has told investigators she mistook Jean's residence for her own and shot him, believing he was an intruder. Dallas police officer Amber Guyger , who killed Botham Shem Jean after entering his apartment, was sacked Monday.
The dead included a one-year-old boy, who was swept away from his mother as they tried to escape their vehicle amid floodwaters. Previously, North Carolina's rainfall record from a storm was 24 inches, set by Hurricane Floyd almost twenty years ago.
Earlier in the war, Russian Federation suspended a supply of S-300s, which Israel feared Syria could use against it. Mr Shoigu said Russian Federation is now going to go ahead with the shipment because "the situation has changed".
Israel offered condolences for the deaths of the Russian troops but said it holds the Syrian government "fully responsible". Mr Putin said "radical militants" such as the Al Qaeda-linked Hayat Tahrir al-Sham would have to withdraw from the zone.
General Assembly, calling the allegations against his nominee for a lifetime post on the top US court politically motivated. Some of us were also friends with Debbie Ramirez during and after her time at Yale.
The Cleveland Browns secured their first win since 2016 Thursday night, but it was someone else who stole everyone's attention. After the win, Browns fans took to the streets to celebrate the first win for the franchise in almost two years.
The first physical design, a matte black cylinder, was uninspired, but the always-on speaker and Alexa resonated with consumers. According to David Limp, the senior vice president of Amazon Devices, the ubiquitous microwave was long overdue for an upgrade.
Chuck Grassley , staffers conducted a phone call with Kavanaugh late Monday afternoon, while Democrats refused to take part. Lindsey Graham, R-S.C., said he was open to hearing from Ford, while resisting calls to delay the vote.
In five games last season with the Browns, Gordon recorded 18 receptions for 335 yards and a touchdown. But if Josh Gordon can stay eligible to play, he's going to be a monster by the end of this year.