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Is Michael Kors buying Versace?

According to industry whispers, yes
Michael Kors is rumoured to be on the brink of a huge fashion house purchase. Here's what we know...

Last year, Michael Kors announced it had acquired international shoe giant Jimmy Choo and now the company has set its sights on yet another label. 

According to Business of Fashion, Michael Kors Holdings Ltd. is on the brink of buying Italian label Versace for a whopping USD$2 billion (roughly Dhs7.3 billion). Few specifics are known about the deal however it is assumed that the Versace family would remain active in the company in the case of a buy-out. 

It would be an interesting mash-up for design aesthetics, given that the bold and brash Versace woman is distinctly different to the all-American Kors customer. However this could be the start of something wonderful…

More news is expected next week so be sure to watch this space. 

Until then, find out which brand has just lost its Creative Director after six years in the role