Did you ever think it could be a time that Micheal Kors would buy Versace and the fashion Icon, Donatella Versace would now be behind the scenes of the fashion world? What should we expect from them now that Micheal Kors is now the new big boss?
Micheal Kors bought the fashion brand for 2.12 billion dollars which is 2.5 times the brand’s current revenue and yes that includes any debt that Versace has accumulated over the years. With only 150 million in stock, the cash deal is expected to close in the fourth quarter of 2019.
We don’t have to worry about Donnatella going anywhere as she will still be apart of the Versace brand to oversee all the ins and out. Let’s not forget that this company is near and dear to the fashion Icon as she took over the family business in 1997 when her brother Gianni Versace was killed.
What are your thoughts about the two companies colliding? Do you think that Micheal Kors and Versace emerging was a good idea? Do you think that the clothes will still have great quality?