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'He will kill it': Versace fans are revolting against the brand's rumored sale to 'rancid' Michael Kors (KORS)

donatella versace and kylie jenner Rei Kawakubo Comme des Garcons Met Gala 2017
donatella versace and kylie jenner Rei Kawakubo Comme des Garcons Met Gala 2017

Neilson Barnard/Getty Images

  • 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.

On Monday, outlets including Bloomberg and The Wall Street Journal reported that Michael Kors was close to acquiring the Italian luxury designer for roughly $2 billion.

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 $2,000, while you can buy a Michael Kors handbag at Macy's for less than $100.

The stark difference between Michael Kors and Versace has some fans revolting against the rumored deal on social media.

Tweet Embed:
//twitter.com/mims/statuses/1044199643163348992?ref_src=twsrc%5Etfw
Worst-case scenario about this: Versace is being sold at Marshall’s for discount prices 💀 just like Michael Kors pieces. pic.twitter.com/q15zKrHUPn Tweet Embed:
//twitter.com/mims/statuses/1044250480124317697?ref_src=twsrc%5Etfw
if michael kors buys versace i will end it all Tweet Embed:
//twitter.com/mims/statuses/1044200012098473987?ref_src=twsrc%5Etfw
Kors buying Versace removes so much of it's appeal. Michael Kors is luxury but Versace is elegance and high-class. Clothes and accessories that speak for you. What does it become once it's owned by another entity.

"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.

donatella versace
donatella versace

Instagram

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.

Tweet Embed:
//twitter.com/mims/statuses/1044199393862275072?ref_src=twsrc%5Etfw
Wtf is donatella doing,, like sis you know gianni never wanted to sell out Tweet Embed:
//twitter.com/mims/statuses/1044232842660769792?ref_src=twsrc%5Etfw
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....... Tweet Embed:
//twitter.com/mims/statuses/1044213319832408069?ref_src=twsrc%5Etfw
Donatella is selling Versace to Michael kors? This doesn't sit well with my soul

Some on social media have argued that the deal would disrespect Gianni Versace, the brand's founder.

Tweet Embed:
//twitter.com/mims/statuses/1044204111015673857?ref_src=twsrc%5Etfw
Gianni Versace didn’t die for his brand to be bought by Michael Kors Tweet Embed:
//twitter.com/mims/statuses/1044230768547917824?ref_src=twsrc%5Etfw
Gianni sweetie, i’m sorry https://t.co/SiK0He8REy Tweet Embed:
//twitter.com/mims/statuses/1044198053773791232?ref_src=twsrc%5Etfw
Gianni is rolling in his grave. https://t.co/YJWp5sUXWG

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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