Michael Kors is about to level up. The brand known form the handbags is reportedly gearing to buy Versace for $2 billion.
According to the Financial Times, Michael Kors Holding Ltd. is scheduled to announce the deal to buy the famed Italian fashion house as early as Tuesday (Sept. 25).
Also involved in the sale is the U.S.-based Blackstone equity firm, which purchased a 20% stake in Versace back in 2014. Versace is still family owned, for right now.
Donatella Versace serves as the company’s creative director while her brother Santo is its chairman.
No word on if the Migos approved of the sale. We kid, we kid.