On September 25th, 2018, Capri Holdings Limited announced their acquisition of Versace for a whopping $2.12 billion. This acquisition was a major move for Capri Holdings as it added yet another iconic brand to their already impressive portfolio.
Background of the Deal
Capri Holdings is an American fashion company that owns high-end fashion brands such as Michael Kors and Jimmy Choo. The company had been looking to expand its portfolio and had been considering acquiring another luxury brand for quite some time.
Versace, on the other hand, is a renowned Italian fashion brand that has been synonymous with luxury and glamour since its inception in 1978. The brand has a loyal following and has been associated with high-profile celebrities and events over the years.
The Details of the Deal
The acquisition of Versace by Capri Holdings was an all-cash deal worth $2. Under the terms of the deal, Capri Holdings acquired the entire Versace business including its worldwide network of retail stores, e-commerce platform, and all licensing agreements.
Capri Holdings’ Plans for Versace
Capri Holdings plans to continue operating Versace as an independent fashion house under the leadership of Donatella Versace, who will remain as creative director. The company also plans to expand the brand globally by opening new stores in key markets such as Asia and investing in its e-commerce platform.
The Impact of the Deal
The acquisition of Versace by Capri Holdings is expected to have a significant impact on both companies. For Capri Holdings, it adds another iconic brand to their portfolio which can help boost their revenue and profits in the long run.
For Versace, being part of a larger organization like Capri Holdings can provide them with access to resources and expertise that they may not have had before. It can also help them expand their global reach and grow their business further.
Conclusion
The acquisition of Versace by Capri Holdings was a major move for both companies. With this deal, Capri Holdings has added another iconic fashion brand to its portfolio while Versace now has the resources and expertise of a larger organization behind it. It will be interesting to see how this deal plays out in the coming years and what impact it will have on the fashion industry as a whole.
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