Michael Kors ($KORS) is reportedly nearing a deal to buy Versace in a deal that would value the storied Italian fashion house at around $2 billion.
Blackstone would sell its 20 percent stake as part of the deal, according to the Wall Street Journal. It is unclear what role the Versace family, led by Donatella, would play in an acquisition. The family has tightly controlled the brand since designer Gianni Versace's murder in 1997.
Unlike Versace with its famous Medusa logo and luxurious stores, Michael Kors has staked out a position in the "mid" high-end market, though it did buy shoe designer Jimmy Choo last year for $1.2 billion.
Bestselling author Malcolm Gladwell explores the power of storytelling, the rise of AI and what makes human creativity unique at the World Business Forum.
Ari Hawkins, trade reporter at POLITICO, unpacks Nvidia CEO Jensen Huang's affair with an alleged Chinese spy, the FBI probe and the fallout for the AI giant.
Kory Kantenga, LinkedIn's Head of Economics, Americas, breaks down slowing hiring, the latest jobs numbers and how the midterms could reshape the labor market.
