Accessory design giant Michael Kors on Tuesday purchased Italian luxury brand Versace for $2.1 billion, reports The Washington Post, and some Versace fans are not happy. The luxury brand, founded by Gianni Versace in 1978 and currently helmed by his sister Donatella, sells high-end goods that often sell for five times as much as Michael Kors' sportswear items, says The Associated Press.

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