If you’re a fashion enthusiast, then you might have heard of the news that Versace has been bought by a new owner. But, who bought Versace? Let’s dive into the details.
Background of Versace
Firstly, let’s have a brief overview of what Versace is all about. Versace is an Italian luxury fashion brand founded by Gianni Versace in 1978.
The brand is known for its bold and glamorous designs that exude confidence and sophistication. The brand has a strong presence in the fashion industry and has been worn by many celebrities over the years.
The Acquisition
In September 2018, it was announced that Michael Kors Holdings Limited had acquired Versace for $2.1 billion dollars. The acquisition was made to expand Michael Kors’ portfolio and enhance their position in the luxury fashion industry.
Who is Michael Kors?
Michael Kors is a well-known American fashion designer who established his eponymous brand in 1981. The brand offers ready-to-wear clothing, accessories, and fragrances for both men and women. Michael Kors is known for his classic designs that are chic and timeless.
The Future of Versace
After the acquisition, Donatella Versace (Gianni’s sister) will remain as the creative director of the brand. She will continue to oversee the design process and maintain the essence of what makes Versace unique. With Michael Kors’ resources behind them, it’s expected that there will be an expansion plan for Versace’s product line and retail stores.
Conclusion
In conclusion, Michael Kors Holdings Limited has acquired one of Italy’s most iconic luxury brands -Versace- for $2. With this acquisition, Michael Kors Holdings Limited aims to strengthen its position in the luxury fashion industry.
Donatella Versace will remain as the creative director of the brand, ensuring that Versace’s unique style and essence are maintained. We can’t wait to see what the future holds for Versace under Michael Kors’ ownership.
6 Related Question Answers Found
The House of Versace, a luxury fashion brand that has been around for more than four decades, has been a topic of discussion in the fashion industry in recent years. In 2018, it was announced that Michael Kors Holdings Limited had acquired the fashion house for a whopping $2.1 billion. This marked a significant change of ownership for the iconic brand that has been synonymous with Italian glamour and luxury since its inception.
If you’re a fashion enthusiast, then you must have heard about the iconic fashion brand Versace. The brand is known for its bold and luxurious designs that are popular among celebrities and fashion enthusiasts across the globe. However, in recent years, there has been a lot of buzz around who bought out Versace.
Versace is one of the most iconic fashion brands in the world. Since its inception in 1978, the brand has been synonymous with luxury and opulence. However, have you ever wondered who actually buys Versace?
Gianni Versace is a name that is synonymous with luxury and high fashion. The Italian designer founded the fashion empire, Versace, which is known for its bold designs, bright colors, and the iconic Medusa logo. But who exactly was the visionary behind the brand?
If you are a fashion enthusiast, you must have heard of the iconic fashion label Versace. This luxury brand is known for its bold and glamorous designs that have been worn by A-list celebrities and fashionistas all over the world. But have you ever wondered who owns this prestigious fashion house?
Versace is a luxury fashion brand that has a rich history dating back to 1978 when it was founded by Gianni Versace in Milan, Italy. Since then, the brand has expanded its reach globally and has become one of the most recognizable names in the fashion industry. However, despite its success and popularity, there is still some confusion surrounding who exactly owns Versace.
