Milan’s fashion week happened last Friday and after the breathtaking Versace new SS19 collection, it’s been confirmed that the Italian fashion house created by Gianni Versace in 1978 has been bought by Michael Kors for $2 billion.
In its acquisition of the brand, Michael Kors Holdings will now officially be named Capri Holdings.
As BAZAAR.com reported, “The Versace family will become shareholders of Capri Holdings Limited, with Donatella keeping her role as creative director of the fashion house. Capri Holdings, formerly Michael Kors Holdings, now has three major fashion houses under its portfolio: Michael Kors Collection, Jimmy Choo, and Versace.”
In an official statement, Donatella Versace said, “It has been more than 20 years since I took over the company along with my brother Santo and daughter Allegra. Santo, Allegra and I recognise this next step will allow Versace to reach its full potential. We are all very excited to join a group led by John Idol, whom I have always admired as a visionary as well as a strong and passionate leader.”
The Italian designer added, “We believe that being part of this group is essential to Versace’s long-term success. My passion has never been stronger. This is the perfect time for our company, which puts creativity and innovation at the core of all of its actions, to grow.”
“We believe that being part of this group is essential to Versace’s long-term success,” Donatella said. “My passion has never been stronger. This is the perfect time for our company, which puts creativity and innovation at the core of all of its actions, to grow.”
People all over the globe have been talking about it how it will impact in one of the most iconic brands of all times.
Here some of the best reactions to the news of Versace’s acquisition from across the web:
donatella after selling versace to michael kors pic.twitter.com/cv23vR67Tj
— Chloe Evangelista (@selectorvoss) September 24, 2018
Versace's fans on Instagram aren't happy about this potential Michael Kors acquisition. pic.twitter.com/JFTJrxMlFF
— Kim Bhasin (@KimBhasin) September 24, 2018
Michael Kors isn’t cheap, actually @MichaelKors has marketing smarts.
The “cheap” stuff you see is the less expensive collection & he also has a high end line.
So while you can get a MK purse for $400, there is also one for $4000.
That’s why he’s close to owning @Versace! pic.twitter.com/Ho4akoHmKX
— Jerome Trammel, M.B.A (@MrJeromeTrammel) September 24, 2018
In a sudden late-season plot twist, Michael Kors is reportedly set to buy Versace for $2bn pic.twitter.com/8moCzAdSYc
— Tom and Lorenzo (@tomandlorenzo) September 24, 2018
News: “Versace to be sold to Michael Kors for 2 billion”
Gianni Versace in heaven: pic.twitter.com/9YOK596DnR— Demi (@demetriachavon) September 25, 2018
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