Michael Kors, the 59-year-old designer acquired the luxury fashion brand Versace in September 2018 for $2.7 billion. His company, Michael Kors Holdings also officially changed its name to Capri Holdings and will trade under the new stock market ticker CPRI. However, despite its acquisition, Versace will remain Italian and retain its glamour, daring and inclusive attitude.
Michael Kors Holdings also purchased luxury footwear brand Jimmy Choo Ltd, for $1.35 billion in 2017 as part of his plan to break into the high-end fashion market. While Michael Kors is associated with all-American style and mass appeal, Versace is inextricably tied to Italian design and luxurious high-fashion flair.
