We all know and remember when Michael Kors acquired Jimmy Choo for
$1.2 Billion back in 2017. This allowed Michael Kors to pave a new way to acquire
international growth and have a significant lead in the luxury shoe market.
Well Michael Kors decided that he wasn’t just done with buying Jimmy Choo.
He decided to officially acquire the well know Italian Fashion house…. Versace.
Versace is ran by the sister of Late Gianni Versace, Donatella Versace. Versace
is such an iconic brand that is always at the top of conversation with any fashion influencers.
Even though Michael Kors bought Versace, Donatella will still be in Creative lead.
Michael Kors will be changing it’s name to Capri Holdings.
This new deal will allow the company to open 100 new stores around the world
and increase the online sales.
Michael Kors says that he will expect to grow Versace’s annual sales to $2 Billion
and for both companies he will earn about $8 Billion.
Michael Kors is reining in the Fashion industry right now. He is making all the smart
moves to grow his company and to become of the best business minded persons in t
he fashion community.
-Stay Tuned for More Dope Fashion