Several Parties Italian newspaper Corriere della Sera reported earlier that Versace could be sold this week for about $2 billion, with several groups interested including Kors and Tiffany & Co.
Kors, whose shares are listed in NY, alarmed investors earlier this year when it reported a decline in retail sales under its main brand in the Americas, even as the smaller European and Asian markets fared better.
London-based Kors past year snapped up shoemaker Jimmy Choo Plc for about £896 million ($1.2 billion), expanding beyond its namesake brand.
The transaction would be meant to position Michael Kors more fully as a competitor to Paris-based LVMH and Kering and the Swiss company Richemont among global heavyweights in luxury across various product lines, analysts said.
Kors, whose shares are listed in NY, alarmed investors earlier this year when it reported a decline in retail sales under its main brand in the Americas, even as the smaller European and Asian markets fared better. No matter what happens to the Versace brand, the Versace family will be involved within the company regardless.
Budding luxury conglomerates, including Michael Kors' U.S. rival Tapestry, owner of Coach and Kate Spade, are trying to make in-roads into an industry still dominated by European players such as Louis Vuitton owner LVMH. The shares have recovered since then, trading 15 percent higher for the year, with Choo boosting the latest quarterly results.
Two of the three sources who spoke to Reuters said the company had agreed to pay a large premium for Versace, known for its Medusa head logo.
Woods maintains share of the lead at Tour Championship
At one stage he led by five from Rose but he dropped another shot after failing to chip up a slope to the 16th green. Woods posted a 12-under 198 total, while Englishman Rose recovered from a bogey, bogey start to card a 68.
Versace had planned to float the company on the stock market but put the plans on hold owing to unfavourable conditions. Donatella herself owns 30 percent of the holding, with the remainder in the hands of her brother Santo.
LVMH, PVH Corp. and Tapestry also looked at Versace in recent months, according to a report on Sunday by Women's Wear Daily.
The company posted revenue of 686 million euros in 2016 and returned to profitability in 2017.
Fashion designer Donatella Versace acknowledges the audience at the Versace show during Milan Fashion Week Spring 2019 in Milan, Italy, September 21, 2018.
In this meeting, Rosenstein again raised the idea of putting a wire on someone to record Trump, the sources said. In a statement to The Times , Rosenstein disputed the story, calling it " inaccurate and factually incorrect ".
In terms of battery, the iPhone XS has a 2,658mAh capacity and it's smaller than the iPhone X which came with a 2,716mAh unit. Because the XS Max has such a large display, though, it has significantly more pixels than the older iPhones.
The Patriots and Lions were apparently closing in on a blockbuster deal involving Gronkowski during the week of the NFL Draft. Through three games, the Brady-Gronkowski connection has seen No. 87 total 13 catches for 189 yards and a touchdown.
The National Hurricane Center said it was monitoring four areas in the Atlantic for signs of a new tropical weather threat. Duke Energy Corp said on Friday that breaches in a cooling lake dam forced it to shut down its natural gas-fired L.V.
But Buffalo, which was a 16.5-point underdog in the game, did the seemingly impossible, soundly dispatching Kirk Cousins and Co. White's Bills now sit at 1-2 on the season, earning the first win of rookie Josh Allen's career on Sunday.
The targeted Chinese imports will face 10 percent tariffs through the end of the year, and then the rate will jump to 25 percent. China cancelled talks that were scheduled for this week, and is digging in by prepping stimulus measures to cushion the economy.
LONDON-Oil prices advanced on Monday on the back of a weaker dollar and continued expectations of a global supply crunch. Novak said OPEC+ would also discuss supply and demand forecasts for the fourth quarter.
Pogba Blasts Mourinho's Tactics For United
We should move more, yeah". "I don't change that because we won two matches in the Premier League". Maybe as well we felt a bit of fatigue because we played Champions League.
Cosby back in court Monday for start of sentencing
Trying to avoid the predator designation for their client, Cosby's lawyers argued that the state law itself is unconstitutional. The conviction came about 11 months after a mistrial was declared in Cosby's first trial when a jury failed to reach a verdict.
Manuel Pellegrini reacts on Twitter to West Ham draw
Former England global , Michael Owen, has predicted that Chelsea will beat West Ham 3-1 in their Premier League game on Sunday. Anderson was replaced by Robert Snodgrass for the last 16 minutes as the chances became more sporadic for the home side.
Depression & Storm Currently In Atlantic Area
The westward movement speed had increased to 18 mph when it was 465 miles south southwest of the southernmost Cabo Verde Islands. The Windward Islands of the eastern Caribbean are expected to be first the feel the impacts of the building storm.
Full coverage: Tropical Storm Florence
Behind the current monstrous hurricane, three others tropical storms exist in the Atlantic including Isaac, Helene, and Joyce. Elder relatives carry as much weight as meteorologists in a tight-knit community of slave descendants on the SC coast.
Deadly gun attack at Iran military parade
There has been no claim of responsibility for the attack. "Iran will respond swiftly and decisively in defence of Iranian lives". In that assault, suicide bombers stormed the parliament and mausoleum of Islamic Republic founder Ayatollah Khomeini.
Cruz, O'Rourke Hold First Debate In Dallas
The state "needs a senator who will work with the president where we can and stand up to him where we must", O'Rourke said. And polls have suggested a tighter race than expected in a state where Republicans typically win in landslides.