There has been a lot of speculation in the fashion industry about whether Versace owns Michael Kors. To answer this question, we need to take a closer look at both of these iconic fashion brands.
Versace
Versace is an Italian luxury fashion company that was founded by Gianni Versace in 1978. The brand is known for its bold and vibrant designs that feature intricate patterns and luxurious materials. Versace has become one of the most influential fashion brands in the world, with its products being sold in over 90 countries.
Michael Kors
Michael Kors is an American luxury fashion company that was founded by Michael Kors himself in 1981. The brand is known for its classic and timeless designs that feature clean lines and neutral colors. Michael Kors has also become one of the most recognizable fashion brands in the world, with its products being sold in over 100 countries.
The Acquisition
In September 2018, it was announced that Michael Kors Holdings Limited had acquired Versace for $2.12 billion. This acquisition made headlines around the world, as it brought two of the biggest names in luxury fashion together under one roof.
However, despite this acquisition, it is important to note that Versace does not own Michael Kors. Instead, Michael Kors Holdings Limited (now known as Capri Holdings Limited) owns both the Michael Kors and Versace brands.
What Does This Mean for the Brands
The acquisition of Versace by Michael Kors Holdings Limited has been seen as a strategic move by both companies. By bringing these two iconic brands together, Capri Holdings Limited now has a stronger presence in the luxury fashion market, with a wider range of products and a larger customer base.
However, it is important to note that both the Michael Kors and Versace brands will continue to operate independently under the Capri Holdings Limited umbrella. This means that both brands will continue to produce their own unique designs and collections, while also benefiting from the resources and expertise of the larger company.
Conclusion
So, does Versace own Michael Kors The answer is no.
However, the acquisition of Versace by Michael Kors Holdings Limited has brought these two iconic fashion brands together in a strategic move that benefits both companies. As they continue to operate independently under the Capri Holdings Limited umbrella, we can expect to see even more innovative designs and collections from these two fashion powerhouses in the years to come.