Deal of the Year: Michael Kors bought Versace
BoF reports that Michael Kors Holdings Limited has bought the Italian brand Versace for $2.12 billion.
The company plans to increase the number of stores from 200 to 300 and increase the output of men’s and women’s accessories.
Until 2014, the Versace house was owned 20% by Donatella, another 30% and 50% by the brother and daughter, respectively. So everything was distributed by Gianni Versace during his lifetime.
Donatella Versace remains as creative director, and the Versace family owns approximately €150 million in company stock.
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