Photo: Scott Olson/Getty Images

Michael Kors will officially acquire Italian fashion brand Versace for $2.1 billion, as reported Monday by multiple news outlets. When the deal closes, the company says it will be renamed to Capri Holdings Limited, and Blackstone will cash out of its 20% stake.

Why it matters: The deal and the name change marks a rebranding for Michael Kors as it attempts to reposition itself within the luxury retail market, which is much more resistant to the pains of economic downturns than traditional retail.

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Updated 24 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 4:30 p.m. ET: 30,306,469 — Total deaths: 948,147— Total recoveries: 20,626,515Map.
  2. U.S.: Total confirmed cases as of 4:30 p.m. ET: 6,705,114 — Total deaths: 198,197 — Total recoveries: 2,540,334 — Total tests: 92,163,649Map.
  3. Politics: In reversal, CDC again recommends coronavirus testing for asymptomatic people.
  4. Health: Massive USPS face mask operation called off The risks of moving too fast on a vaccine.
  5. Business: Unemployment drop-off reverses course 1 million mortgage-holders fall through safety netHow the pandemic has deepened Boeing's 737 MAX crunch.
  6. Education: At least 42% of school employees are vulnerable.

Court battles shift mail-in voting deadlines in battleground states

Illustration: Sarah Grillo/Axios

Michigan joins Pennsylvania in extending mail-in ballot deadlines by several days after the election, due to the coronavirus pandemic and expected delays in U.S. Postal Service.

The latest: Michigan Court of Claims Judge Cynthia Stephens ruled that all ballots postmarked before Nov. 2 must be counted, so long as they arrive in the mail before election results are certified. Michigan will certify its general election results on Nov. 23.

Ina Fried, author of Login
54 mins ago - Technology

Interview: Unity CEO explains his company's unusual IPO

CEO John Riccitiello virtually ringing the NYSE bell as Unity shares began trading on Friday. PhotoL Unity

Unity Technologies was just one of many companies with blockbuster IPOs this week, but it took a decidedly different approach, using data rather than handshakes to decide who got to invest and at what price. CEO John Riccitiello explained why in an interview with Axios.

Why it matters: Traditionally, bankers and companies set IPO prices based on conversations and expectations, a process that has been criticized as basically leaving money on the table.