Michael Kors is buying Italian fashion house Versace for $2.1 billion. The Michael Kors brand is moving into the luxury sector, acting as a house of luxury brands similar to French conglomerate LVMH. Kors acquired designer shoe brand Jimmy Choo for around $1.2 billion last year. Stock in Michael Kors Holdings fell more than 8 percent after the deal was announced Monday. ___ After acquiring Versace, Kors will change its name to Capri Holdings Limited.
found @ 9401 likes ON 2018-09-26 03:29:23 BY ME.ME