Michael Kors to buy Italy's Versace for $2 billion: Report

America's Michael Kors has reached an agreement to buy Italian fashion house Versace in a deal that would value the latter at more than $2 billion, reports said on Monday. As a part of the deal, Blackstone, which bought a 20% stake in Versace in 2014, will fully exit the company. Versace family will remain with their company, reports added.