Michael Kors Acquires Versace for $2.12 Billion - What does that mean for us?
The limited multinational fashion company "Michael Kors holding," which umbrella's the subsidiary fashion brand Michael Kor's, seeks control of Italy's fashion house, Versace.
With the deal still in motion, loyal customers and fashion guru's alike are wondering if this new deal will change the iconic brands traditional and unique designs - and the answer is NO!
Michael Kors Holding is looking to expand their terrain regarding luxury fashion while they climb the ranks to be rated amongst the best in 'High-Fashion.' Just last year, Michael Kors captured the luxury shoe designer, Jimmy Choo under their umbrella and yet the shoes continue to hold its authenticity.
Similar to Jimmy Choo, we can still expect that although Michael Kors is looking subsidize Versace, the brand will still be able to serve us it's timeless pieces. Donatella Versace states that even with the two companies merging she will continue to reign as the creative vision behind the brand. Donatella also reassures us that this newly formed partnership is not something to be afraid of yet something we should all be excited for. The collaboration, she points out, will give rise to new levels of creativity and innovation.
With the Michael Kors acquisition of Jimmy Choo for 1.2 Billion USD, they have placed themselves in competition to become one of fashions most profitable houses behind Kering and LVMH.