Michael Kors Holdings Ltd. buys Italian fashion label Gianni Versace SpA for 1.83 billion euros, that is $2.2 billion US dollars.
The company predicts to increase Versace’s sales to more than double the current level. The plan is to expand the number of stores and concentrate on e-commerce development.
“The acquisition of Versace is an important milestone for our group,” Michael Kors Chief Executive Officer John Idol said in a statement. “We are committed to investing in its growth.”
Don’t jump to conclusions people. This news does not mean that Michael Kors, the man himself, would take over as the Italian brand's new creative director. He will not! And first thing is firs, Donatella Versace is staying.
Who is closer to Karl Lagerfeld genius approach?
Influencers we have plenty, but when Diane Keaton joins the squad, all you other bitches can take a hike. The #OOTD hashtag is now Diane’s territory.
Iris Apfel joins IMG. IMG's other clients include Gigi Hadid, Gisele Bundchen, Karlie Kloss.
After just two years, four collections, and several awards, Calvin Klein and Simons part ways.
Mother and son, two of the finest alpinists of their eras, gone too soon, a quarter of a century apart.
“I think the biggest thing to realize is that most often plastic surgery cannot drastically change someones overall appearance. It really works best to enhance what someone already has. The results though, can be quite stunning and transformative depending upon what the starting point is. “
Known for his signature lace-up leather brief, the former Balmain embellishment expert launched his label in 2017 and has captured industry attention for his exploration of sex and sexuality through clothing.