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Michael Kors tipped to buy Versace $2bn

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Michael Kors tipped to buy Versace $2bn Michael Kors tipped to buy Versace $2bn[/caption]

Versace, the Italian fashion house founded by Gianni Versace 40 years ago, is set to be bought by Michael Kors, according to reports.

The US fashion group has agreed to buy the Italian firm in a deal worth about €1.7bn ($2bn, £1.5bn), Reuters reported. The Italian newspaper Corriere della Sera first reported the impending sale earlier on Monday. The Versace family still owns 80% of the company. Four years ago it sold a 20% stake to US private equity group Blackstone. Versace and Blackstone both declined to comment to Reuters. Last year, Michael Kors bought Jimmy Choo, the luxury shoemaker founded in London, for almost £900m. Donatella Versace, the firm’s artistic director and vice-president, has called a staff meeting in Milan for Tuesday, Corriere della Sera reported. Versace reported sales of €686m in 2016. Chief executive Jonathan Akeroyd said earlier this year that annual turnover was soon expected to exceed €1bn. Gianni Versace was 50 when he was murdered outside his Miami mansion in July 1997 by Andrew Cunanan.   SOURCE: BBC.COM]]>

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Don’t make music out of every social issue – Kofi Kinaata tells colleagues 

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Ghanaian Highlife musician and songwriter, Kofi Kinaata, has offered poignant advice to his fellow artistes, urging them to exercise caution when addressing sensitive social issues through their music.  (more…)

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Dress decently to the gym; some men want to make it to heaven –  Williams Uchemba tells ladies   

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Nollywood actor and filmmaker, Williams Uchemba has taken to social media to express his dismay over women’s revealing attire at the gym, prompting him to cease attending public gyms to avoid temptation and maintain his spiritual focus. (more…)

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GMA-USA nominates Emperor T-Jiga’s “Sugar” for Afropop/ Afrobeat Song of the Year.

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Multi-award winning artiste, Theo Nii Martey, professionally known as Emperor T-Jiga has been making waves in the AfroPop /Afro Beats scene with his latest single, Sugar. The infectious track has caught the attention of music critics and fans alike, propelling Emperor T-Jiga into the spotlight.

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Some Wealthy Ghanaians Lack Philanthropic Spirit – Michael Blackson asserts

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Ghanaian-American comedian Michael Blackson recently delved into a pressing issue he believes hampers progress in Ghana, selfishness. (more…)

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Davido Opens Up About His Favorite Musicians for Collaborations

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Multiple award-winning Afrobeat singer and songwriter, David Adedeji Adeleke recently shared insights into his preferred collaborators within the music industry. (more…)

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Fameye celebrates daughter’s 2nd birthday

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Ghanaian musician Peter Famiyeh Bozah, popularly known as Fameye, took to Instagram to celebrate his daughter Arviana’s second birthday today, April 25th, 2024. (more…)

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