Media: Versace Luxury Fashion House ‘To Be Sold Shortly’ - Insight Trending

Media: Versace Luxury Fashion House ‘To Be Sold Shortly’

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Media: Versace Luxury Fashion House ‘To Be Sold Shortly’
MILAN: Italian fashion mammoth Versace is going to be sold, the nation's biggest-selling news paper said Monday, refering to mysterious sources who proposed the arrangement could come in the following couple of hours.

Donatella Versace, the brand's imaginative executive and VP of the gathering, has assembled a staff conference in Milan for Tuesday, as indicated by the Corriere della Sera daily paper.

Big name shoemaker Jimmy Choo, extravagance gem dealer Tiffany and Co and US fashion bunch Michael Kors Holdings were recorded as possible purchasers.

The organization completely is assessed to be justified regardless of some $2.0 billion (1.7 billion euros), the report said.

Versace couldn't promptly confirm the news to AFP.

Twenty for each penny of the brand, known for its Medusa head logo, was purchased by US private value bunch Blackstone in 2014, and the family possesses the rest.

The gathering, established by planner Gianni Versace in 1978, flaunted offers of 686 million euros in 2016 and turnover is relied upon to surpass one billion euros in the "here and now", CEO Jonathan Akeroyd said in June.

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