A trade group representing hundreds of America's designers has called on the fashion industry to showcase women of greater size diversity, such as plus-size models Ashley Graham and Candice Huffine. Graham, of Nebraska, in 2016 became the first plus-size model to make the cover of "Sports Illustrated." She also appeared on the cover of "Vogue,"...
Jan 7, 2019
Michael Kors Limited has completed its change of name to Capri Holdings Limited. From January 2, its ticker symbol at the New York Stock Exchange will be CPRI. Fashion’s new luxury conglomerate, which includes footwear label Jimmy Choo, has also announced it has completed the acquisition of Italian fashion house Versace. The 2 billion US dollar...
Dec 31, 2018
Michael Kors might be a billion dollar business, but he's continuing his race further to the top by targeting Chinese tourists. The designer and business mogul is using WeChat, a popular app across China, to market towards Chinese shoppers coming to the U.S. So far, it has worked to drive sales. Beginning in 2017, Kors began investing in...
Nov 19, 2018
American maker of luxury apparel, footwear, accessories Michael Kors said on Wednesday its Q2 revenue for 2018 increased by 9.3percent. Net income declined by 32.5 percent from the same period last year. The company’s sales in Q2 2018 were 1.2 billion US dollars, up from 1.14 billion US dollars a year earlier. Net income slid to 137.6 million US...
Nov 7, 2018
In a capitalist economy, mergers and acquisitions are the key to success and this is more relevant than ever for the global fashion industry. When it comes to multinational luxury companies, Kering, LVMH and Richemont dominate the sector. In recent years, Capri Holdings (previously known as Michael Kors) and Coach are setting their sights on...
Oct 3, 2018
New York. - Michael Kors’ acquisition of Versace and the posterior corporate overhaul to launch Capri Holdings has shacked the luxury world as we understood it until today. This new luxury fashion conglomerate is the first for the U.S., in a world where France, Italy, and Switzerland have traditionally led. Michael Kors has sealed the...
Sep 28, 2018
New York.- Barely hours before Michael Kors confirmed its acquisition of Italian fashion powerhouse Versace, the American company’s shares dipped, and closing down by over 8 percent. Citi analyst Paul Lejuez described the movement as an "overreaction" with some considering the stock to be oversold. Some analysts following the stock voiced their...
After announcing the sale of Versace to Michael Kors Holdings Limited, Donatella Versace was inquired by Italian newspaper Corriere della Sera about the decision to sell the company to an American business, rather than a fellow Italian one. Matteo Salvini, Italy’s Deputy Prime Minister, reacted to the news by saying he’s “fed up” of seeing...
Sep 26, 2018
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...
The rumors were true: Michael Kors Holdings Limited has confirmed the acquisition of Italian luxury house Gianni Versace S.p.A for a total value of 1.83 billion euro (approximately 2.12 billion US dollars). “The acquisition of Versace is an important milestone for our group. Versace was founded in 1978. For over 40 years, Versace has represented...
Sep 25, 2018
Hallowed Italian fashion house Versace, one of the few remaining big names in the business under family control, is close to a deal to be acquired by growing luxury juggernaut Michael Kors, financial media reported Monday. Michael Kors, whose roots are in the United States but which is headquartered in London, could announce a deal as soon as...
Michael Kors Holdings is buying Gianni Versace SpA (Versace) for 2 billion US dollars (1.52 billion pounds), according to news agencies Reuters and Bloomberg, which cite people familiar with the matter. The sources added that an official announcement would be made later this week. Neither Versace nor Michael Kors have commented on the reports...
Sep 24, 2018
