Michael Kors set to snap up Italy's Versace - sources

U.S. fashion group Michael Korshas agreed to take control of Versace in a deal that could value one of Italy's most prized designers at $2 billion (1.52 billion pounds), sources familiar with the matter said on Monday.Budding luxury conglomerates, including Michael Kors' U.S. rival Tapestry , owner of Coach and Kate Spade, are trying to make in-roads into an industry still dominated by European players such as Louis Vuitton owner LVMH .Michael Kors, whose namesake label is best known for its lea