"Cheap fabric for soccer moms." "Duty-free cheap (expletive) you buy at the airport." "A brand about to go from high-end luxury to TJ Maxx & Walmart."

Versace fans used all kinds of colorful comparisons to criticize the sale of the Iconic Italian fashion brand sale to Michael Kors, taking to social media to mourn what they saw as the brand's sullied legacy.

Following rumors on Monday, the sale of the Gianni Versace fashion house to Michael Kors Holdings Ltd. was confirmed on Tuesday, in a deal worth more than $2 billion.

Versace acolytes responded on social media with all the drama one would expect, invoking the name of the Gianni Versace to condemn the sale.

"Gianni Versace didn't die for his ICONIC brand to be sold to some cheap & tacky designer who is the epitome of locals knowledge on designer brands & whos bags u can't even tell the difference between the fakes they sell in Turkey," read one viral response. "This is the end of Versace. I'm so disappointed."

Some truth-tellers on social media were quick to point out the differences between Kors' luxury and lower-priced lines.

"Michael Kors isn't cheap, actually @MichaelKors has marketing smarts," read one rebuttal. "The "cheap" stuff you see is the less expensive collection & he also has a high end line. So while you can get a MK purse for $400, there is also one for $4000. That's why he's close to owning @Versace!"

That didn't stop other Versace fans from calling Michael Kors the "tackiest man alive."

Maeve McDermott for CNBC