Exactly 1 week ago the news broke that Versace, the Italian fashion house, has been bought by the American brand Michael Kors. Versace has been a brand surrounded by opulence and drama both on the catwalk and off it. From famous models making their way down the Versace catwalk with gold pins holding pieces together created by the iconic brand to Gianni Versace, the creator of the brand, being gunned down on the steps of his Miami home.
Image found here
Exactly 1 week ago the news broke that the American brand Michael Kors has bought Versace for around $2.1 billion. The Versace family had owned 80% of the business with the other 20% being owned by Blackstones, the worlds largest private equity firm.
My personal thoughts on the merge is that it is an interesting move for both brands due to Michael Kors being such a different type of brand to Versace, i.e. Michael Kors being at the lower end of the luxury market and Versace being an extremely high end brand. I have seen many others having the same views on the new ownership across social media during the last week with people believing Versace have made a big mistake and some even begging the Versace family not to make the deal.
After hearing about the questionable sale I went on to find
out that the Michael Kors fashion house is making even
more changes to their brand, going as far as renaming their
brand as Capri Holdings.
What are your thoughts on the latest change in the fashion world? Big mistake or exciting times ahead for the merging brands?
Let me know what's running through your head on this one in the comments.
No comments:
Post a Comment