There has been a lot of speculation and confusion regarding the ownership of Versace, one of the most iconic fashion houses in the world. The question that has been on everyone’s mind is, “Does Capri own Versace?” Let’s delve into this topic and try to understand it better.
What is Capri?
Firstly, let’s understand what Capri Holdings Limited is. It is a global fashion luxury group that owns and operates various luxury brands such as Michael Kors, Versace, and Jimmy Choo. It was founded in 1981 by Michael Kors himself and has since grown to become a major player in the fashion industry.
Did Capri acquire Versace?
In September 2018, it was officially announced that Capri had acquired Versace for a whopping $2.12 billion. This acquisition was a significant move for Capri as it allowed them to diversify their portfolio and expand their business into new markets.
What does this mean for Versace?
With this acquisition, Versace became a subsidiary of Capri Holdings Limited. However, Donatella Versace still remains as the creative director of the brand, ensuring that its unique identity and aesthetic are maintained.
What are the implications of this acquisition?
One of the biggest implications of this acquisition is that it allows both brands to benefit from each other’s expertise and resources. For instance, Michael Kors can use its experience in supply chain management to streamline Versace’s operations. On the other hand, Versace can help Michael Kors expand its customer base by tapping into its loyal following.
Conclusion
To sum up, yes – Capri does own Versace after acquiring it in September 2018 for $2. However, Donatella Versace remains as the creative director of the brand, ensuring that its unique identity and aesthetic are maintained.
The implications of this acquisition are significant as it allows both brands to benefit from each other’s expertise and resources. It will be interesting to see how this acquisition plays out in the long run and what new developments it brings to the fashion industry.
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