Michael Kors is a well-known high-end fashion brand that has been around for more than three decades. The brand has recently made headlines with its acquisition of another iconic fashion label, Versace.
The acquisition has created quite a buzz in the fashion industry, with many wondering how much Michael Kors paid to acquire the luxury brand. In this article, we will delve into the details of the acquisition and answer all your questions about how much Michael Kors bought Versace for.
What is Versace?
Versace is an Italian luxury fashion company that was founded in 1978 by Gianni Versace. The brand is known for its bold and colorful designs, which are often adorned with prints and embellishments.
Versace offers a range of products including clothing, accessories, fragrances, and home furnishings. The brand has become synonymous with luxury and extravagance over the years and has been worn by countless celebrities on the red carpet.
Acquisition by Michael Kors
In September 2018, it was announced that Michael Kors had acquired Versace for $2.12 billion. This deal included the purchase of 100% of the outstanding shares of Gianni Versace S.p.A., which includes the entire Versace family stake in the business.
The Details of the Deal
The $2.12 billion deal was made up of two parts: cash and shares. Michael Kors paid $1.83 billion in cash to acquire Versace, while the remaining $289 million was paid in shares of Michael Kors Holdings Limited.
Impact on Both Brands
The acquisition of Versace by Michael Kors had a significant impact on both brands. For Michael Kors, it was an opportunity to expand its reach into high-end luxury fashion while also diversifying its product offerings beyond handbags and accessories.
For Versace, the acquisition meant access to Michael Kors’ vast resources and expertise in retail and marketing. The brand has already seen some changes since the acquisition, including the appointment of a new CEO, Jonathan Akeroyd.
Conclusion
In conclusion, Michael Kors paid $2.12 billion to acquire Versace in 2018. The acquisition has had a significant impact on both brands and has created a lot of buzz in the fashion industry. Only time will tell how this acquisition will continue to shape the future of these two iconic fashion labels.
8 Related Question Answers Found
Is Michael Kors Buying Versace? Rumors have been swirling in the fashion industry that American luxury fashion brand, Michael Kors, is in talks to acquire Italian fashion house, Versace. If this deal goes through, it could mean big changes for both brands and the fashion industry as a whole.
Recently, there have been rumors that American fashion designer Michael Kors is planning to acquire the Italian luxury fashion house Versace. The idea of two fashion powerhouses joining forces has caused a stir in the industry, and many are curious about what this acquisition could mean for both brands. What we know so far:
The rumors of Michael Kors’ interest in Versace began in early September 2018, shortly after the Italian fashion house presented its Spring/Summer 2019 collection during Milan Fashion Week.
If you’re a fashion enthusiast, you might have heard about the acquisition of Versace by Michael Kors in 2018. Since then, there has been a lot of speculation about how much of Versace does Michael Kors really own. In this article, we will delve deeper into the details of this acquisition.
In 2018, Michael Kors Holdings Limited made a historic acquisition by purchasing Versace for $2.12 billion. The deal was a significant milestone for both companies, as it brought together two of the most iconic names in the fashion industry. Background on Michael Kors
Michael Kors is an American fashion designer and entrepreneur who began his career in the fashion industry in the early 1980s.
If you’re a fashion enthusiast, you may have come across the names Michael Kors and Versace. Both these brands are known for their luxurious and high-end fashion products. However, there has been some confusion surrounding the ownership of these brands.
There has been a lot of buzz in the fashion industry lately about a potential acquisition by Michael Kors. The Target: Versace, the iconic Italian luxury fashion brand. So, did Michael Kors actually buy Versace?
There has been a lot of buzz lately surrounding the luxury fashion brand Versace and its ownership. Rumors have been circulating that Michael Kors, known for his eponymous fashion line, is now the owner of Versace. But is there any truth to these rumors?
There have been rumors circulating in the fashion industry that Versace, the iconic luxury brand, has been sold to Michael Kors. While there has been no official confirmation of this news, speculation has been rife. What We Know So Far
Versace has been a family-owned business since its inception in 1978.
