Who Is the New Owner of Versace?

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After weeks of speculation, it has finally been confirmed that the luxury fashion brand Versace has been acquired by one of the biggest fashion conglomerates in the world. The Italian brand, renowned for its bold and vibrant designs, has been a favorite among fashion enthusiasts for decades. Let’s take a closer look at who the new owner of Versace is.

Michael Kors Holdings Limited

The American fashion company, Michael Kors Holdings Limited, has purchased Versace for a whopping $2.12 billion. The acquisition marks a significant milestone for Michael Kors as it seeks to expand its presence in the luxury fashion market.

Who is Michael Kors?

Michael Kors is an American fashion designer who founded his eponymous brand in 1981. The brand is known for its luxurious accessories and ready-to-wear clothing lines that cater to both men and women. Over the years, Michael Kors has established itself as a formidable player in the global fashion industry.

What does this mean for Versace?

Versace will continue to operate as an independent entity under the new ownership. Donatella Versace will remain as the creative director of the brand while her brother Santo Versace will maintain his role as Chairman. The acquisition will provide Versace with access to Michael Kors’ extensive retail network and resources which could help the brand reach new heights.

The Reaction

The announcement of the acquisition has received mixed reactions from fashion enthusiasts around the world. While some are optimistic about what this means for Versace’s future, others are concerned that it may lead to a dilution of the brand’s unique identity.

The Bottom Line

With the acquisition now complete, it remains to be seen how this will impact both brands in terms of their future growth and success. One thing is certain – Michael Kors has made a bold move by acquiring one of the most iconic fashion brands in the world. Only time will tell how successful this acquisition will be, but for now, we can all look forward to seeing what the future holds for Versace under its new ownership.

6 Related Question Answers Found

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Who Owns the Versace Brand Now?

Gianni Versace, the renowned Italian fashion designer, founded the iconic Versace brand in 1978. Since then, the brand has become synonymous with luxury and elegance, with its recognizable Medusa head logo gracing everything from clothing to accessories. However, following Gianni Versace’s tragic death in 1997, ownership of the brand has undergone several changes.

Who Is Versace Owner?

Are you curious about the owner of the iconic fashion brand, Versace? Let’s delve into the history and ownership of this luxury fashion brand. History of Versace Versace was founded in 1978 by the late Gianni Versace, an Italian fashion designer.