Yes, I know some of you were wondering if I was going to say something about this. Okay, when I heard about the potential sale of Versace to Michael Kors a couple of days ago, I was in the airport trying to catch my flight. When I saw the tweets and then the articles this morning, I nearly choked on my breakfast. What was even more interesting were the reactions to these turn of events.
While most of us were hit with shock, awe, and excitement, I can truly say that Michael Kors has been on an aggressive climb in the world of fashion and business. So let’s be honest here: if Michael Kors was not considered a ‘giant’ in the fashion industry in the past, they are now. Not only with its recent acquiring of Versace, but a series of strategically-placed events. What some are forgetting is that this is not the first time in which Michael Kors has made a major investment within the fashion industry. Back in 2017, Michael Kors bought Jimmy Choo for an estimated £896 million ($1.1 billion). Now, while still expanding with stores all over the world, Michael Kors announced a deal to by the fashion house of Versace for an estimated $2.1 billion and then change the name of MKH Limited to Capri to couple with the expansion of its empire.
While this is a major reign of accomplishments for the American designer and his empire, some Versace fans were not too happy about the merg. When the news hit Twitter, there were a swarm of mixed feelings:
With the reading of Twitter, it seems fans are concerned with the potential downplay of the empire that is Versace, but I don’t see it happening. Check out Versace’s most recent collection at Milan Fashion Week