Michael Kors ($KORS) is reportedly nearing a deal to buy Versace in a deal that would value the storied Italian fashion house at around $2 billion.
Blackstone would sell its 20 percent stake as part of the deal, according to the Wall Street Journal. It is unclear what role the Versace family, led by Donatella, would play in an acquisition. The family has tightly controlled the brand since designer Gianni Versace's murder in 1997.
Unlike Versace with its famous Medusa logo and luxurious stores, Michael Kors has staked out a position in the "mid" high-end market, though it did buy shoe designer Jimmy Choo last year for $1.2 billion.
The Biden administration has unveiled a plan, Plan B, to address the student loan debt crisis. It offers to cancel up to $20,000 in interest for borrowers enrolled in income-driven repayment plans. This proposal aims to reset balances for those facing growing debt due to unpaid interest, benefiting low—and middle-income borrowers. An estimated 25 million borrowers are eligible for some form of interest forgiveness.
As we head into the second quarter, there’s an argument in favor of buying Boeing stock. Why? As one expert says, ‘there’s nowhere else to get planes.’
With inflation and prices still on the rise, it might be worth considering a carpool app. One of them, Singapore-based Ryde, just went public in the U.S.
Full Glass Wine Co., the company behind Bright Cellars, Wine Insiders, and Winc, knows you fell in love with home delivery during the pandemic – and it’s investing millions into making it even better.
It might sound counterintuitive, but the Fed cutting interest rates three times this year could cause inflation to spike and actually be worse for markets and the economy as a whole.
