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Michael Kors Buys Versace for $2.12 Billion
Michael Kors has bought Versace for $2.12 billion, which was confirmed on Tuesday (September 25) amid speculation. Donatella Versace, who ran the luxury fashion brand with her brother Santo and her daughter Allegra, released a statement about the deal, which read, “It has been more than 20 years since I took over the company along with my brother Santo and daughter Allegra. I am proud that Versace remains very strong in both fashion and modern culture.” In addition to the billions, Donatella and her family will receive around $177 million in shares of the new company. Michael Kors chairman and CEO John D. Idol also commented on the deal, stating,…
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Shaquille O’Neal Buys Krispy Kreme Store
Shaquille O’Neal just took ownership of an Atlanta-area Krispy Kreme store. The basketball Hall-of-Famer and sports and entertainment superstar announced Monday that he has become the owner of the Ponce de Leon location, which has been there for more than 60 years. O’Neal, who has previously admitted to loving Krispy Kreme doughnuts, has compared his visits to the restaurants to a kid’s experience in a candy store. “In addition to Shaquille’s status as a sports and entertainment icon and businessman, he is known for spreading joy, which aligns with our positioning and mission,” said Tony Thompson, president and CEO of Krispy Kreme Doughnuts. “We are confident this partnership will have…
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