In September 2018, Capri Holdings Limited, formerly known as Michael Kors Holdings, announced that they had acquired the Italian fashion house Versace for a whopping $2.12 billion. This acquisition was one of the biggest fashion deals of the year and had a significant impact on the fashion industry.
Why Did Capri Buy Versace?
Capri Holdings Limited is a luxury fashion group that owns various high-end brands like Michael Kors and Jimmy Choo. The acquisition of Versace was part of their strategy to expand their portfolio and tap into the high-end luxury market. Versace’s reputation as a luxurious brand with a loyal following made it an attractive acquisition Target for Capri.
The History of Versace
Versace was founded in 1978 by Gianni Versace, an Italian fashion designer who became famous for his bold designs and use of vibrant colors. The brand quickly gained popularity and became synonymous with high-end luxury fashion. After Gianni’s death in 1997, his sister Donatella took over as creative director and continued to lead the brand to success.
The Impact of the Acquisition
The acquisition by Capri Holdings Limited gave Versace access to new resources, including funding for expansion and access to new markets. It also allowed Capri to diversify its portfolio by adding another iconic brand to its list of holdings.
Since the acquisition, there have been some changes within Versace’s management team. Jonathan Akeroyd was appointed as CEO in May 2019, replacing Gian Giacomo Ferraris who had been with the company since 2009.
Final Thoughts
The acquisition of Versace by Capri Holdings Limited was a significant move that had far-reaching implications for both companies and the fashion industry as a whole. With new resources at their disposal, it will be interesting to see how Versace continues to evolve and grow under the ownership of Capri.
7 Related Question Answers Found
In September 2018, Capri Holdings Limited announced that it had acquired the Italian fashion house Versace for a staggering $2.12 billion. The deal was finalized on December 31, 2018, making Versace one of the many luxury brands that now fall under the umbrella of Capri Holdings. Background
Capri Holdings is a fashion holding company that was formerly known as Michael Kors Holdings Limited.
Gianni Versace is a name that is synonymous with luxury fashion. The brand he created, Versace, has become one of the most recognizable and iconic fashion houses in the world. But when did Gianni Versace create Versace?
Palazzo Versace is a luxurious hotel located in Gold Coast, Australia. The hotel is known for its opulent design and lavish amenities that cater to a high-end clientele from all over the world. However, when was Palazzo Versace built?
Gianni Versace is a name synonymous with high fashion, glamour, and luxury. He was an Italian fashion designer who created some of the most stunning and iconic designs in the 1980s and 1990s. His rise to fame was not an overnight success but rather a gradual process that took years of hard work and determination.
Gianni Versace, the renowned Italian fashion designer, was diagnosed with cancer in the early 1990s. The Early Years of Gianni Versace
Versace was born on December 2, 1946, in Reggio Calabria, Italy. He grew up in a family that was involved in the fashion industry and this had a profound influence on his life.
Donatella Versace is a well-known Italian fashion designer, who is recognized for her contribution to the fashion industry. She was born on May 2, 1955, in Reggio Calabria, Italy. Donatella is the sister of the late Gianni Versace, who was also a famous fashion designer.
In the world of fashion, big purchases and acquisitions are always making headlines. One such acquisition that has taken the industry by storm is Michael Kors’ purchase of Versace. After months of speculation and rumors, it was finally confirmed in September 2018 that Michael Kors had acquired Versace for a whopping $2.1 billion.
