Michael Kors Officially Buys Versace For $2.12 Billion

News broke yesterday that Michael Kors has purchased the legendary Versace brand for an astonishing $2.1 billion dollars. Versace has been one of the most prominent independent brand created by the late Gianni Versace. It will be interesting to see the direction Versace will have now that they have a powerhouse behind them.

Source NY Times.