“MUM PLEASE” Fans Begging Donatella Versace Not to Sell the Company to Michael Kors – BEST Social Media Reactions

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American sportswear fashion designer Michael Kors will buy the Milan luxury fashion company Versace for $2 billion. Fans are revolting against this on Twitter. See best reactions on Nexter.org

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Source: Versace

In a nutshell

According to the news reported by Reuters and the Financial Times, the companies will officially announce a deal this week. This can happen on Tuesday, September 25, at a meeting with the Vice President and Chief Designer of the fashion house of Donatella Versace, sister of the late founder Versace Gianni. Earlier, a possible deal was reported by the Italian newspaper Corriere della Sera.

Sources of the agency said that as a result of the transaction, the former owner of the fashion company – the investment fund Blackstone, who bought a 20% stake in Versace for 210 million euros in 2014, will leave the Italian company.

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Source: Neilson Barnard/Getty Images

Michael Kors will also receive the remaining share, which belongs to the family Versace. Nevertheless, the family of the founder of the Italian fashion company will continue to take part in the business of Versace. Representatives of both companies didn’t comment on the situation.

FT explains that the purchase by Michael Kors of the Italian luxury brand is conducted in order to compete with the European conglomerates LVMH (owns the brands Louis Vuitton, Givenchy, Guerlain, Hennessy, etc.), Kering (Gucci, Yves Saint Laurent, Balenciaga, etc.) and Richemont (Cartier , Chloé, and others).

Best Twitter reactions

Users try to predict the worst-case scenario:

“Michael Kors is luxury but Versace is elegance and high-class,” – probably, the main difference between two companies.

“Don’t let MKors buy any % of Versace. He will ruin it. He will kill it.” and “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,” Instagram comments say.

“Donatella, sweetie, how are you doing?” comment reads. “Please tell me all of the MK rumours are false because I’m crying like a baby.”

The fans of the brand are heart-broken by the news:

People tried to appeal to the fact that the brother of the current owner of the brand, Gianni Versace, wouldn’t want to sell the company:

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"MUM PLEASE" Fans Begging Donatella Versace Not to Sell the Company to Michael Kors - BEST Social Media Reactions
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"MUM PLEASE" Fans Begging Donatella Versace Not to Sell the Company to Michael Kors - BEST Social Media Reactions
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American sportswear fashion designer Michael Kors will buy the Milan luxury fashion company Versace for $2 billion. Fans are revolting against this on Twitter. See best reactions on Nexter.org. 
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