Michael Kors buys Versace for $ 2.1bn

The purchase of the Italian fashion house "Versace" by the American brand "Michael Kors" has already been formalized for the sum of 2.1 billion dollars.

Michael Kors buys Versace for $ 2.1bn

This is also seen as the sliding of one of the latest independent Italian brands, in the midst of an empire that will rival the major European conglomerates "LVMH Moet Hennessy Louis Vuitton SE", which includes brands such as "Givenchy", "Fendi" "Dior"; or "Kering", holding Gucci, Saint Laurent, Alexander McQueen, Balenciaga and others.

With "Versace" and Jimmy Choo in ownership, "Kors" that will change the name of the company after the end of the sale, is causing no less chaos in the existing power structure that has dominated luxury fashion since the 1990s.

The question is whether the American designer, executive director and President John Idol will succeed or fail when many others have failed; to build the first American luxury group.

Source: www.worldbulletin.net