In a surprising move that has sent shockwaves through the fashion world, American fashion company Michael Kors has announced its acquisition of the iconic Italian luxury brand Versace. The deal, valued at $2.12 billion, marks a significant moment in the history of both brands and raises questions about the future direction of Versace under new ownership.
Who is Versace owned by?
Versace was founded in 1978 by the legendary Italian designer Gianni Versace. After Gianni's tragic death in 1997, control of the company passed to his sister, Donatella Versace, who took over as the creative director. The Versace family has maintained ownership of the brand since its inception, with Donatella playing a key role in shaping its design aesthetic and maintaining its status as a symbol of luxury and glamour.
Does Michael Kors own Versace?
With the recent acquisition, Michael Kors now owns Versace, adding the iconic Italian brand to its portfolio of fashion labels. The deal brings together two distinct fashion houses with different design philosophies and customer bases, raising questions about how the two brands will be integrated and whether Versace's unique identity will be preserved under new ownership.
Michael Kors Versace acquisition
The acquisition of Versace by Michael Kors represents a strategic move by the American fashion company to expand its presence in the luxury market. Michael Kors, known for its accessible luxury products, has been looking to diversify its offerings and appeal to a wider range of consumers. By acquiring Versace, a renowned luxury brand with a strong global presence, Michael Kors aims to strengthen its position in the high-end fashion industry and tap into new markets.
Who owns Versace company now?
Following the acquisition by Michael Kors, the ownership of Versace has shifted from the Versace family to the American fashion company. While Donatella Versace will continue to play a role in the brand as the creative director, the ultimate decision-making authority now rests with Michael Kors and its parent company, Capri Holdings Limited.
Who owns Versace now?
With the acquisition by Michael Kors, Versace is now owned by Capri Holdings Limited, the parent company of Michael Kors. Capri Holdings is a global fashion luxury group that also owns other prestigious brands such as Jimmy Choo and Michael Kors Collection. The addition of Versace to its portfolio further solidifies Capri Holdings' position as a major player in the luxury fashion market.
Gianni Versace buyout
The buyout of Versace by Michael Kors marks a significant moment in the history of the Italian luxury brand. Founded by Gianni Versace in 1978, the brand has been synonymous with bold designs, vibrant colors, and a distinctive aesthetic that has captivated fashion lovers around the world. The buyout represents a new chapter for Versace, as it transitions from a family-owned business to being part of a larger fashion conglomerate.
Does Donatella still own Versace?
While Donatella Versace will continue to be involved in the creative direction of the brand, the ownership of Versace now lies with Michael Kors and Capri Holdings. Donatella's role as the creative director of Versace is crucial in maintaining the brand's identity and heritage, but the final decisions about the brand's direction will be made by the new owners.
Who runs Versace today?
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