MICHAEL KORS

Brand Versace swallows by $2,1bi

Fa fa l'americano! Versace, a Milanese house of Calabrian origins (Gianni, Donatella and Santo are all from Reggio Calabria), has just been bought by the North American group Michael Kors, the same brand of the same name and that already has in his umbrella Jimmy Choo . It was said that the value was around $ 2 billion, but now the announced is $ 2.1 billion- a very significant difference, since it symbolizes $ 100 million ... This includes the 20% that the private investment fund firm Blackstone bought in 2014 - that is, it is 100% of Versace itself.Michael Kors CEO John Idol ensures that Donatella Versace continues as creative director of the brand and Jonathan Akeroyd continues as CEO.

The Michael Kors group, with the purchase, changes its name to Capri Holdings. The plan for Versace is to increase the number of points of sale from the current 200 to 300 mark (that is, 50%), focus on accessories in order to increase annual sales to $ 2 billion (more than double that mark sells today). And another - Capri Holdings should continue to increase its portfolio ... Who will be next?
There are people who are afraid of the mischaracterization of Versace after purchase. That should not be a problem, since Donatella is still in charge. Jimmy Choo, for example, also followed his creative path even after Michael Kors bought it. But for now, no word on Versus, the second brand, which turns 30 in 2019 (Versace exists for 40). Let's see!


L. P. and mundophone