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.
The X and Starlink owner plays a game of chicken with Brazil's Supreme Court. Also: Disney v DirecTV, the future of steel, and that crazy ol' stock market!
Find out what Gen Z is saying about how money equates to happiness from Voya Financial and what they think they need to start saving for retirement. Watch!
