How much did Michael Kors buy Versace for?

Asked by: Mrs. Frida Pfeffer PhD  |  Last update: September 21, 2022
Score: 5/5 (42 votes)

Fashion company Michael Kors is buying Versace, the Italian luxury brand founded by Gianni Versace in 1978, for $2.12 billion. The two fashion houses made the announcement Tuesday, one day after speculation spread about a potential deal.

How much did Michael Kors pay for Versace?

The company announced the acquisition of the Italian fashion house Versace for more than $2 billion in September, less than two years after acquiring Jimmy Choo, the shoemaker that rocketed to fame on the high heels of “Sex and the City.”

Did Michael Kors take over Versace?

Following the September 2018 announcement of luxury group Michal Kors Holdings acquiring the Versace fashion house for a sum exceeding $2.1 billion, the American conglomerate announces on Monday it has completed the takeover.

How much did Capri buy Versace for?

As previously announced, Capri Holdings acquired Versace for a total enterprise value of Euro 1.83 billion (or approximately US$2.12 billion on the date of announcement).

How much did they sell Versace for?

On 25 September 2018, American Michael Kors Holdings acquired all outstanding shares in Gianni Versace S.r.l. for $2.12 billion (USD); the acquisition was completed on 31 December 2018, keeping on Donatella Versace as head of creative design.

Michael Kors buys Versace for $2.1B | Money Talks

23 related questions found

Who is the owner of Versace now?

The American designer's holding company, Michael Kors Holdings, announced today the purchase of Italian label Versace for $2.12 billion.

Why was Versace sold to Michael Kors?

“We believe that the strength of the Michael Kors and Jimmy Choo brands, and the acquisition of Versace, position us to deliver multiple years of revenue and earnings growth.” The company said it would increase the number of Versace shops from 200 to 300, and would increase the share of revenue raised from accessories ...

How much did Michael Kors buy Jimmy Choo?

The geographic diversity of shoe designer Jimmy Choo locations was among the selling points for Michael Kors.

Did Michael Kors buy Jimmy Choo?

Michael Kors Holdings acquired Jimmy Choo last year, setting itself apart from other fashion conglomerates that tend to grow in scale and revenue strictly via licenses, diffusion lines, and the acquisition of more mass-market labels.

Does Donatella still own Versace?

Upon Gianni's death in 1997, she inherited a portion of the Versace brand and became its creative director. She is currently the brand's chief creative officer.

What brands does MK own?

On January 2, 2019, Michael Kors Holdings Limited officially changed its name to Capri Holdings Limited (NYSE: CPRI). Michael Kors, Jimmy Choo, and Versace are the three founder-led brands under Capri Holdings Limited.

Is Versace still cool?

But in 2022, Versace's status as an aspirational, celebrity-focused brand has taken on new meaning. It's also become a popular label to shop at resale; young people looking for a bit of fashion escapism are snapping up fabulously Baroque, ostentatious homages to more glamorous days gone by.

How much did Donatella sell Versace for?

It was just announced that Michael Kors would acquire Versace's family company for $2.12 billion. It started as a rumor but today the news was confirmed: Michael Kors will buy Italian luxury brand Versace for $2.12 billion.

Does Michael Kors own Louis Vuitton?

It would not be the first time Louis Vuitton's parent company has held a stake in the Kors brand. LVMH Group acquired a one third stake in the brand in 1999, while Kors, himself, was serving as the creative head of LVMH-owned Celine.

Where is Allegra Versace now?

Since 2011 Allegra has been a director of Gianni Versace S.p.A. and has worked in New York City as a theatrical dresser.

What's the difference between Gianni Versace and Versace?

Gianni Versace was responsible for designing the Versace Logo. It was in 1993 when he came up with the idea of having the Medusa's head as the main focus of the logo. While the Versace brand started in 1978, Gianni did not release a logo for the company until 1980, at the time only featuring the name Gianni Versace.

Does Estee Lauder own Michael Kors?

Michael Kors joined The Estée Lauder Companies Inc. family of brands when the exclusive global license agreement was signed and buiness acquired in 2003. Sold in more than 20 countries and territories. The designer's signature scent, Michael Kors, is a modern interpretation of the classic Tuberose.

Who owns MK perfume?

Michael Kors Beauty – The Estée Lauder Companies Inc.

Is Versace and Fendi the same?

It's not Fendi x Versace or Versace x Fendi—it's simply Fendace. And don't you forget it. “It's a swap rather than a collaboration, and most of all, it is done out of friendship,” says Kim Jones, artistic director of Fendi couture and womenswear.

Who sold Jimmy Choo to Michael Kors?

John D. Idol , Chairman and Chief Executive Officer of Michael Kors Holdings Limited , said, “We are thrilled to have completed the acquisition of Jimmy Choo , which brings together two iconic brands to create a global fashion luxury group.

Is Jimmy Choo a luxury brand?

Jimmy Choo is a leading global luxury brand with an empowered sense of glamour and a playfully daring spirit. The brand traces its roots to a bespoke shoemaker named Jimmy Choo, based in the East End of London in the early 1990s, who catered to the global jet set, including Princess Diana.

How long does Jimmy Choo man last?

Sillage, Longevity, and Versatility

The longevity here is actually pretty good, however. Better than many of the other Jimmy Choo colognes. Man Blue can seemingly get somewhere in the 6-8 hour range, depending on the climate conditions.

How much did Versace sell for in 2018?

Fashion company Michael Kors is buying Versace, the Italian luxury brand founded by Gianni Versace in 1978, for $2.12 billion.

When did Capri buy Versace?

Michael Kors bought Versace for $2.1 billion in September 2018 as part of its action plan to become a luxury fashion conglomerate to rival Kering and LVMH. Under the Capri Holdings label – the name it chose to reflect its new portfolio approach – also sits Jimmy Choo, which Kors acquired in 2017 for $1.2 billion.