Does Michael Kors Still Own Versace?

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There has been a lot of buzz surrounding the ownership of the luxury fashion brand Versace. In 2018, Michael Kors Holdings Limited (now Capri Holdings Limited) announced its acquisition of Versace for $2.1 billion. However, the question on everyone’s mind is – does Michael Kors still own Versace?

What happened after the acquisition?

After the acquisition, Capri Holdings Limited stated that they were committed to preserving the legacy of Versace while also expanding its global presence. Donatella Versace, sister of founder Gianni Versace and longtime creative director of the brand, remained in her position and continued to oversee all design aspects.

Recent Developments

In December 2020, it was reported that Capri Holdings Limited was in talks to sell off parts of its business due to the impact of COVID-19 on the luxury fashion industry. While there were no specific statements about selling off Versace, rumors began circulating that the brand could be up for sale.

What do we know?

As of now, there has been no official announcement regarding a potential sale of Versace or any part of Capri Holdings Limited’s business. It is important to note that even if a sale were to occur, it does not necessarily mean that Michael Kors would no longer own Versace.

Conclusion

So to answer the initial question – at present, Michael Kors through his company Capri Holdings Limited still owns Versace and Donatella Versace continues as creative director. However, with ongoing rumors about a potential sale and uncertainty in the luxury fashion industry due to COVID-19, only time will tell what lies ahead for this iconic fashion brand.

  • In summary: Michael Kors through his company Capri Holdings Limited currently owns Versace.
  • After the acquisition: Donatella Versace remained creative director and Capri Holdings Limited committed to expanding the brand globally.
  • Recent developments: Rumors of a potential sale have circulated due to COVID-19 impact on the luxury fashion industry, but no official announcement has been made.

So if you’re a fan of Versace, keep an eye out for any future updates regarding its ownership.

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