Author: Nicole Phelps / Source: Vogue
Following a day of rumors, today it’s official: Michael Kors Holdings Limited has bought Versace, the Italian luxury goods house founded by the late Gianni Versace in 1978 and now creatively helmed by his sister, Donatella Versace, for more than $2.12 billion. Michael Kors Holdings will be renamed Capri Holdings Limited with the acquisition.
“This is a very exciting moment for Versace,” said Donatella Versace in a statement. “It has been more than 20 years since I took over the company along with my brother Santo and daughter Allegra. I am proud that Versace remains very strong in both fashion and modern culture. 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.”
The Versace family will retain a role in the company, with Donatella, who has had a string of editorial and commercial…
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