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. The brand quickly became known for its bold and colorful designs, featuring eye-catching prints and luxurious materials. Gianni’s untimely death in 1997 left the fashion world in shock, but the brand continued under the leadership of his sister Donatella Versace.
Capri Holdings Limited
Capri Holdings Limited is a global fashion luxury group that was founded in 1981 by Michael Kors. The company’s portfolio includes three iconic luxury brands – Michael Kors, Jimmy Choo, and now Versace. Capri Holdings Limited has a presence in over 100 countries worldwide and is committed to creating sustainable growth for its brands.
The Acquisition
The acquisition of Versace by Capri Holdings Limited was completed on September 25, 2018. Under the terms of the deal, Capri Holdings Limited paid €1.12 billion USD) to acquire all outstanding shares of Gianni Versace S.p.A., the parent company of the Versace brand.
What This Means for Versace
The acquisition by Capri Holdings Limited is expected to provide significant benefits to the Versace brand. With access to Capri Holdings’ resources and expertise in areas such as digital marketing and supply chain management, Versace will be well-positioned for future growth and success.
What This Means for Capri Holdings Limited
The acquisition of Versace is a significant move for Capri Holdings Limited, as it adds another iconic fashion brand to its portfolio. The company’s CEO, John Idol, has stated that the addition of Versace will help to diversify the company’s revenue streams and further establish Capri Holdings Limited as a global leader in the luxury fashion market.
Conclusion
The acquisition of Versace by Capri Holdings Limited is a significant move that has already had an impact on the fashion world. With the resources and expertise of Capri Holdings behind it, Versace is well-positioned for future growth and success. As one of the most iconic fashion brands in history, Versace’s acquisition by Capri Holdings Limited is sure to be watched closely by industry insiders and fashion enthusiasts alike.