Five things to know about Michael Kors
24 days ago - By Fashion United
Global fashion giant Michael Kors announced
Tuesday that it had agreed to buy Versace, signaling an intention to move deeper into the international big league after snapping up shoemaker Jimmy
Choo last year.
The company, rooted in iconic American fashion, but headquartered in
London, will pay 2.1 billion USD for the Italian luxury giant, a statement said.
Here are five things to know about Michael Kors:
The creative vision is Michael Kors, the Long Island born creative director who founded the label in 1981 after dropping out of fashion school.
He has flirted with billionaire...
Read more ...
Dreaming of Capri: $2.1B Versace Deal Transforms Michael Kors
24 days ago - By WWD
The portfolio race is on.
And while John Idol, Michael Kors Holdings' chairman and chief executive officer, made the latest move, securing Versace in an aggressive $2.1 billion deal, his company's going to have to keep pushing to get ahead.
Idol told WWD in an interview Tuesday that the company is done with acquisitions - for now - and is going to focus on paying down its post-deal debt load and growing Versace into a $2 billion brand.
But the group seems to be open to more deals down the line - once the Versace transaction closes in the fourth quarter, Kors will be renamed Capri Holdings...
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