Michael Kors Buys Versace for $2.1 Billion
Its new corporate name will be changed to Capri Holdings.
![Eyewear, Hair, Blond, Face, Sunglasses, Glasses, Hairstyle, Lip, Hair coloring, Long hair,](https://cdn.mos.cms.futurecdn.net/JnT8miKAR5fPF6n74poseX-415-80.jpg)
It's official: Michael Kors owns Versace. The American company, which already owns Jimmy Choo, paid $2.1 billion for the iconic Italian brand. Michael Kors also plans to rename itself Capri Holdings to better reflect its diverse portfolio of brands. This move echoes that of Coach, which last year changed its company name to Tapestry.
"The acquisition of Versace is an important milestone for our group," said John Idol, chairman and chief executive officer of Kors, to Women's Wear Daily. "For over 40 years, Versace has represented the epitome of Italian fashion luxury, a testament to the brand’s timeless heritage … With the full resources of our group, we believe that Versace will grow to over $2.0 billion in revenues."
Meanwhile, Donatella Versace, who will remain on board to grow her family's luxury brand, said, "It has been more than 20 years since I took over the company along with my brother Santo and daughter Allegra...Versace is not only synonymous with its iconic and unmistakable style, but with being inclusive and embracing of diversity, as well as empowering people to express themselves. Santo, Allegra and I recognize that this next step will allow Versace to reach its full potential."
So, with this deal officially in the books, will we see a change in either Michael Kors or Versace's future designs? Will there also be logo changes? We'll have to wait to see.
Stay In The Know
Marie Claire email subscribers get intel on fashion and beauty trends, hot-off-the-press celebrity news, and more. Sign up here.
Marina Liao is the former fashion news editor at Marie Claire, where she covered celebrity style (from Meghan Markle to Katie Holmes), fashion trends, and shopping advice, plus conducted original interviews with industry insiders. She's now the Senior Commerce Editor at House Beautiful, where she owns coverage on deals and sales across home decor and accessories, in-depth product reviews on furniture and appliances, as well as news around new product launches since 2023. With help from leading designers and tastemakers, Marina spotlights quality products while tracking current design trends, a skill she’s mastered over six years in fashion media. Marina holds a bachelor’s degree in journalism from Stony Brook University, beginning her career in narrative-driven commerce coverage as an editorial assistant at PopSugar.
-
30 Linen Pieces From Nordstrom’s Sale for a Seamless Summer to Fall Transition
Shop breezy dresses and airy pants for versatile summer and autumn outfits.
By Lauren Tappan Published
-
The 17 Best Summer Perfumes for Women Are Like Vacation in a Bottle
Fresh and fruity scents coming right up.
By Samantha Holender Published
-
20 Shows Like 'Emily in Paris' We're Binging Before Season 4 Arrives
Eat your heart out, Pierre Cadault
By Nicole Briese Published
-
30 Linen Pieces From Nordstrom’s Sale for a Seamless Summer to Fall Transition
Shop breezy dresses and airy pants for versatile summer and autumn outfits.
By Lauren Tappan Published
-
7 Make-My-Life-Easier Items I'm Buying From the Nordstrom Anniversary Sale
Grab these must-haves before it's too late.
By Nikki Ogunnaike Published
-
The Best Summer Work Shoes Don’t Have To Scream ‘Corporate'
Footwear that means business in the best way possible.
By Lauren Tappan Published
-
34 Chic Vacation Essentials Hiding in Nordstrom's Anniversary Sale
Don't board the plane without packing these items first.
By Lauren Tappan Last updated
-
The Boxer Shorts Trend Offers a Realistic Take on Lingerie Dressing
How the borrowed-from-the-boys bottom became a hero summer piece with endless style potential.
By Emma Childs Published
-
Fashion Girls Are Destined to Wear the J.Crew x Maryam Nassir Zadeh Collaboration on Vacation
Beloved indie designer Maryam Nassir Zadeh translated her essentials into the ultimate packing list.
By Halie LeSavage Published
-
I'm a Style Editor—50 Last-Minute Prime Day Fashion Deals to Grab Before Tomorrow
Grab these on-sale items before it’s too late.
By Lauren Tappan Last updated
-
Fashion Editors Share the Best Work Dresses From Their Summer Uniform
From classic wrap silhouettes to breezy linens, these are the expert-approved styles we're wearing on repeat.
By Lauren Tappan Published