Versace officially becomes American. The Italian fashion house has made an agreement between Michael Kors, who already on the eve was indicated among the eligible buyers of the Medusa maison, together with Tiffany and the "usual" Kering. The American group will pay 1,83 billion euros.
According to reports from Ansa, the parties would be engaged in signing the documents, while the official press release will arrive by Tuesday.
After purchasing the shoe brand, Jimmy Choo, Michael Kors expands its horizons in the luxury market, grabbing one of the flagships of Made in Italy and tries to challenge the dominance of French luxury in the world, launching the de facto challenge to Kering and Lvmh.
However, investors don't seem to like the news too much. On Wall Street, the stock of the American fashion house lost 8,2% yesterday.
What does the agreement include? Versace was valued at 1,83 billion euros. The Versace family, through the Givi holding, which today holds 80% of the capital, should remain in the company with a minority stake, while Blackstone - which owns the remaining 20% - seems destined to leave the scene.
(Last update: 13.12 pm on 25 September).
