5 hours agoMichael Cors buys Versace for $2.1 billion
Periskopi(8 years ago)
(8 years ago)American fashion giant Michael Cors has confirmed the purchase of Versace for $2.1 billion, an action that has not been liked by fans of the Italian fashion house. The creative director, Donatella Versace, has led Versace since 1997 when her brother Gianni was killed. It called the sale “a moment [...]
The creative director, Donatella Versace, has led Versace since 1997 when her brother Gianni was killed.
She called the sale “a very exciting moment” and said it would enable Versace to reach full potential.
Donatella will continue to lead the creative vision of Versace, Michael Cors executive director John Idol has announced.
Idol has said that Versace represents the remand of Italian luxury fashion “and that its embezzlement is a historic moment for the company, which will be renamed Capri Holdings.
The new owner plans to increase the number of Versace shops from 200 to 300, and plans to increase revenues by increasing the production of shoes and accessaries, categories that are more affordable and sold faster.
The unique Brand Versace has been seen in the appearances of some of the world's stars and high profiles and in the cover of famous magazines, probably mostly compared to other frogs.
