Michael Kors complete purchase of Versace. It’s official, fashion house, Michael Kors Holdings Ltd now owns Italian fashion brand Versace.
The American fashion company has officially changed its name to Capri Holdings and will in future trade on the stock market as CPRI. Renowned as one of the leading ladies and gentleman’s luxury fashion brands in the world today, Michael Kors Holdings Ltd also owns Jimmy Choo which was purchased back in 2017 for over €1.1 billion euro and now officially owns one of Italy’s leading fashion brands, Versace which they purchased for just over €2.3 billion in September 2018.
Chief executive officer of Michael Kors, John Idol in a statement said: “We are thrilled that the house of Versace is now part of the Capri Holdings family of luxury brands.”
“Versace has long been recognised as one of the world’s leading fashion luxury houses, and is synonymous with Italian glamour and style.”
Even though CPRI Holding now own Versace, their creative director, Donatella Versace has promised fans she will still be around to guide and continue to influence the future direction of the company. The 63-year-old Italian designer has insisted that Versace will remain Italian.
Taking to social media, Donatella posted to her Instagram account: “Ciao a tutti! You all know how I love the interaction that I have with all of you here. First of all, I wanted to let you know that I am NOT going anywhere, so for those who wanted to get rid of me, well…it ain’t happening!”
“I also wanted to reassure you that Versace will remain Italian, made in Italy and that it will keep its glamour, daring and inclusive attitude that have made you all love it. This is just the beginning of an exciting, new adventure that I hope you will live together with me! Xoxo (sic).”
Michael Kors complete purchase of Versace