News just broke that Michael Kors has its eyes set on buying out Versace to strengthen their portfolio of luxury work.

Rumors have been circulating for some time post-Versace's Spring 2019 runway about a possible buyout of the famed Italian brand, started by the late Gianni Versace.

Turns out Michael Kors is very likely to acquire the world famous design company for an estimated $2 billion (no big deal). And if this new development goes through, Kors will take over control of the namesake and Versace will forsake their ownership, staying on to provide a much smaller role in international business.

Donatella Versace, along with her family, currently own 80 percent of the fashion brand, after selling 20 percent to the US private equity group Blackstone, which will no doubt sell it's stake in the brand, should Kors take over.

While no official agreements have been issued publicly, word is we could be getting a statment any day now.