VERSACE COULD ANNOUNCE KORS PURCHASE TUESDAY

Italian fashion house Versace could announce its sale to U.S.-based fashion group Michael Kors this week, with a deal potentially valuing the Milanbased brand at about $2 billion, according to multiple media reports. Sources familiar with the deal spoke anonymously to Bloomberg and Reuters, with the latter describing the decision as finalized. Donatella Versace, the brand’s artistic director, called for a staff meeting Tuesday tied to the sale, both outlets reported. She has helped lead the company with brother Santo Versace, its chairman, since the 1997 murder of their sibling Gianni, the company’s founder.