The Gianni Versace empire was sold on Tuesday to Michael Kors Holdings Ltd. for a reported $2.1 billion–and fashion fans are furious about it.
“Gianni Versace didn’t die for his ICONIC brand to be sold to some cheap and tacky designer,” “This is the end of Versace. I’m so disappointed.” “The iconic Versace, one of my favorite brands…bought by Michael Kors, the tackiest man alive.”
It seems fashionistas’ biggest fear is that Versace goods might actually become (gasp!) less expensive. “The brand about to go from high-end luxury to TJ Maxx and Walmart,” one Twitter user complained, while another moaned, “Worst-case scenario about this: Versace is being sold at Marshalls for discount prices.”