Michael Kors ups the glamour, buys Versace for $2 billion
World BusinessSept 27, 2018
Michael Kors is buying the Italian fashion house Versace in a deal worth more than $2 billion (1.83 billion euros), continuing its hard charge into the world of high-end fashion. The deal Tuesday comes just 14 months after the New York handbag maker spent $1.35 billion adding to its portfolio Jimmy Choo, the shoemaker that rocketed to fame on the high heels of "Sex and the City."Like others in the fashion industry, Michael Kors Holdings Ltd. is trying to fire up sales by cranking up the glamour.