- Versace fans are revolting after reports that the iconic Italian designer is about to be bought by Michael Kors.
- People are begging Versace to reconsider the deal, with fans commenting on Donatella Versace’s Instagram saying Michael Kors would “kill” the brand.
- One comment reads: “Don’t let the rancid oppressive stain of a fashion house known as Michael Kors take away what made Versace great.”
Versace fans are revolting after reports that the fashion brand is on the cusp of announcing a deal with Michael Kors.
Currently, the Versace family – including Donatella Versace, who became the brand’s creative director after her brother Gianni’s death in 1997 – owns 80% of the company. The other 20% is owned by the private-equity firm Blackstone Group, which acquired the stake in 2014.
An acquisition by Michael Kors would be a landmark deal for the fashion industry, with an American company taking over an Italian icon. Most Versace bags cost more than $US2,000, while you can buy a Michael Kors handbag at Macy’s for less than $US100.
The stark difference between Michael Kors and Versace has some fans revolting against the rumoured deal on social media.
“Don’t let MKors buy any % of Versace. He will ruin it. He will kill it,” one Instagram comment says.
“You sell off your heritage and Gianni’s memory for decadent money. I really hope you don’t … but if it’s so, I will never buy from you anymore,” another comment reads.
As spotted by the Bloomberg reporter Kim Bhasin, Donatella Versace’s Instagram has been bombarded with comments begging her to call off the deal.
“Donatella, sweetie, how are you doing?” one comment says. “Please tell me all of the MK rumours are false because I’m crying like a baby.”
Another comment reads: “Don’t let the rancid oppressive stain of a fashion house known as Michael Kors take away what made Versace great.”
“Why just WHY would you sell Versace to a brand like MICHAEL KORS,” says another.
If MK really buys Versace I will be so heartbroken. Donatella has been my favorite designer since I discovered Versace at 10 y/o. Why would you sell your family’s legacy? Think about what Gianni would want Donatella… please…….
— diseases (@FASHI0NWH0RE) September 24, 2018
Donatella is selling Versace to Michael kors? This doesn't sit well with my soul
— Thato Chipu Mabaso (@ilovetaydo) September 24, 2018
Some on social media have argued that the deal would disrespect Gianni Versace, the brand’s founder.
Gianni Versace didn’t die for his brand to be bought by Michael Kors
— W⚓️ (@Wkhnage) September 24, 2018
Gianni sweetie, i’m sorry https://t.co/SiK0He8REy
— Summer (@georgiasummerxo) September 24, 2018
Versace did not immediately respond to Business Insider’s request for comment on the backlash.
The reports said Blackstone would sell its stake in Versace as part of the Michael Kors deal, which would allow the Versace family to maintain a role in the company.
Donatella Versace has arranged a meeting with employees on Tuesday to announce the sale, Bloomberg reported, citing two people familiar with the matter.
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