Michael Kors news and archive

US fashion group calls for more diversity in model size

A trade group representing hundreds of America's designers has called on the fashion industry to showcase women of greater size diversity, such as plus-size models Ashley Graham and Candice Huffine. Graham, of Nebraska, in 2016 became the first plus-size model to make the cover of "Sports Illustrated." She also appeared on the cover of "Vogue,"...

Business

Capri Holdings Limited completes acquisition of Versace

Michael Kors Limited has completed its change of name to Capri Holdings Limited. From January 2, its ticker symbol at the New York Stock Exchange will be CPRI. Fashion’s new luxury conglomerate, which includes footwear label Jimmy Choo, has also announced it has completed the acquisition of Italian fashion house Versace. The 2 billion US dollar...

Business

Michael Kors trying to drive business via Chinese tourists

Michael Kors might be a billion dollar business, but he's continuing his race further to the top by targeting Chinese tourists. The designer and business mogul is using WeChat, a popular app across China, to market towards Chinese shoppers coming to the U.S. So far, it has worked to drive sales. Beginning in 2017, Kors began investing in...

Report

Michael Kors Q2 revenues rise 9.3 percent

American maker of luxury apparel, footwear, accessories Michael Kors said on Wednesday its Q2 revenue for 2018 increased by 9.3percent. Net income declined by 32.5 percent from the same period last year. The company’s sales in Q2 2018 were 1.2 billion US dollars, up from 1.14 billion US dollars a year earlier. Net income slid to 137.6 million US...

NewsFeatured

3 tips for staff after your fashion brand has been acquired

In a capitalist economy, mergers and acquisitions are the key to success and this is more relevant than ever for the global fashion industry. When it comes to multinational luxury companies, Kering, LVMH and Richemont dominate the sector. In recent years, Capri Holdings (previously known as Michael Kors) and Coach are setting their sights on...

Management |ANALYSIS Featured

Capri Holdings: birth of the first U.S. luxury fashion conglomerate?

New York. - Michael Kors’ acquisition of Versace and the posterior corporate overhaul to launch Capri Holdings has shacked the luxury world as we understood it until today. This new luxury fashion conglomerate is the first for the U.S., in a world where France, Italy, and Switzerland have traditionally led. Michael Kors has sealed the...

Management |ANALYSIS Featured

The analysts’ view: Michael Kors might struggle with integration of so many different brands

New York.- Barely hours before Michael Kors confirmed its acquisition of Italian fashion powerhouse Versace, the American company’s shares dipped, and closing down by over 8 percent. Citi analyst Paul Lejuez described the movement as an "overreaction" with some considering the stock to be oversold. Some analysts following the stock voiced their...

Business

Donatella says no Italian companies were interested in buying Versace

After announcing the sale of Versace to Michael Kors Holdings Limited, Donatella Versace was inquired by Italian newspaper Corriere della Sera about the decision to sell the company to an American business, rather than a fellow Italian one. Matteo Salvini, Italy’s Deputy Prime Minister, reacted to the news by saying he’s “fed up” of seeing...

Fashion Featured

Five things to know about Michael Kors

Global fashion giant Michael Kors announced Tuesday that it had agreed to buy Versace, signaling an intention to move deeper into the international big league after snapping up shoemaker Jimmy Choo last year. The company, rooted in iconic American fashion, but headquartered in London, will pay 2.1 billion USD for the Italian luxury giant, a...

Management |UPDATE

It’s official: Michael Kors buys Versace, company to be renamed Capri Holdings Limited

The rumors were true: Michael Kors Holdings Limited has confirmed the acquisition of Italian luxury house Gianni Versace S.p.A for a total value of 1.83 billion euro (approximately 2.12 billion US dollars). “The acquisition of Versace is an important milestone for our group. Versace was founded in 1978. For over 40 years, Versace has represented...

Report |UPDATE

Versace close to deal to be bought by Michael Kors: reports

Hallowed Italian fashion house Versace, one of the few remaining big names in the business under family control, is close to a deal to be acquired by growing luxury juggernaut Michael Kors, financial media reported Monday. Michael Kors, whose roots are in the United States but which is headquartered in London, could announce a deal as soon as...

Business

Michael Kors set to buy Versace for 2 billion US dollars

Michael Kors Holdings is buying Gianni Versace SpA (Versace) for 2 billion US dollars (1.52 billion pounds), according to news agencies Reuters and Bloomberg, which cite people familiar with the matter. The sources added that an official announcement would be made later this week. Neither Versace nor Michael Kors have commented on the reports...