Capri Holdings Limited, the luxury fashion company, acquired Versace for a whopping $2.1 billion in 2018. This acquisition marked a significant milestone for Capri as the company expanded its portfolio of high-end brands.
The Beginning of the Acquisition
The talks of this acquisition began in 2017 when Donatella Versace, the artistic director and vice president of Versace, announced that the company was open to selling a minority stake. However, by September 2018, it was confirmed that Capri had acquired the Italian fashion house.
The Financial Details
The acquisition of Versace by Capri holdings was an all-cash deal worth $2.1 billion. This amount was financed through a combination of cash on hand and loans.
Capri paid €1.8 billion ($2.1 billion) to acquire Versace and reported that they would finance the purchase with more than $700 million in cash on hand and approximately $1.5 billion in debt.
The Future Plans
Capri’s CEO, John D. Idol, stated that this acquisition would help establish them as one of the leading global fashion luxury groups in the world. He also said that they plan to increase revenue by expanding Versace’s geographical reach and product offerings.
Donatella Versace also shared her thoughts on this deal and stated that she believes Capri’s experience in building luxury brands will allow them to further develop and grow Versace’s potential.
Conclusion
In conclusion, Capri Holdings’ acquisition of Versace for $2.1 billion was a significant move for both companies. It will be exciting to see how this deal plays out in terms of expanding product offerings and reaching new markets while staying true to the brand’s DNA.
- Price: $2.1 Billion
- Financing: Cash on Hand and Loans
- Plans: Expand Product Offerings and Geographical Reach
9 Related Question Answers Found
On September 25, 2018, Capri Holdings Limited announced that it had completed the acquisition of Versace for a total value of €1.83 billion euros (approximately $2.12 billion USD). This acquisition was a massive move by Capri Holdings Limited, as it added another iconic fashion brand to its already impressive portfolio, which includes Michael Kors and Jimmy Choo. The History of Versace
Versace was founded in 1978 by Gianni Versace in Milan, Italy.
If you’re a fashion enthusiast and have been keeping up with the latest news in the industry, you may have heard about the sale of the iconic Gianni Versace mansion in Miami Beach. The stunning property is known for its impressive architecture, luxurious interiors, and rich history. In this article, we will delve into the details of how much the Gianni Versace house sold for and what makes it such a coveted piece of real estate.
Gianni Versace was a legendary fashion designer known for his iconic designs and luxurious lifestyle. One of the most significant purchases he made during his lifetime was his Miami Beach mansion, Casa Casuarina. The mansion, previously known as The Amsterdam Palace, was built in 1930 by architect Alden Freeman.
Donatella Versace, the creative director of the world-famous fashion house Versace, recently sold the company to an American fashion group for a whopping $2.1 billion. The sale was completed in September 2018 and marks a significant change in the fashion industry. Background
Versace was founded by Gianni Versace in 1978 in Milan, Italy.
Donatella Versace, the world-renowned fashion designer, recently made headlines when she sold her family’s fashion empire. The question on everyone’s mind is – how much did she sell Versace for? The Sale of Versace:
In September 2018, Donatella Versace announced that Michael Kors Holdings Limited had acquired the luxury fashion brand for $2.12 billion.
On September 25th, 2018, news broke that Donatella Versace had sold her family’s fashion brand to Michael Kors Holdings Limited (now known as Capri Holdings Limited) for a staggering $2.12 billion. This news sent shockwaves through the fashion industry and left many wondering what the future held for the iconic Italian label. The Background
Versace was founded in 1978 by Gianni Versace and quickly became one of the most recognizable fashion brands in the world.
Versace is a well-known luxury brand that has been around for more than four decades. Founded by Gianni Versace in 1978, the brand has become synonymous with high fashion and luxury. In September 2018, it was announced that the Italian fashion house had been sold to an American company for a whopping sum of $2.1 billion.
Donatella Versace, the sister of late designer Gianni Versace, recently made headlines for selling the iconic fashion brand Versace to Michael Kors Holdings Ltd. But just how much did she sell it for? According to reports, the sale was worth a whopping $2.12 billion dollars.
On September 25, 2020, the late fashion designer Gianni Versace’s Miami Beach mansion was sold for a staggering $30 million. The sale came after the property had been on the market for almost a year, with an initial asking price of $125 million in 2012. The iconic mansion, known as Casa Casuarina, was originally built in 1930 by architect Alden Freeman and later purchased by Versace in 1992.
