Its official! Michael Kors acquires Versace for $2.12 billion
Reading Time: 2 minutes Post Views: 2,466 It’s official now! In the race to build America’s first-ever luxury conglomerate, Michael Kors Holdings, now renamed Capri Holdings, has acquired the world-famous Italian fashion house Versace for a value of approximately USD 2.12 billion, including debt. The primary cash deal — with only €150 million in stock is expected to close in the fourth quarter of 2019, reduce earnings in the first year, but contributing profits starting in year two. “This is a very exciting moment for Versace. It has been more than 20 years since…
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