Michael Kors Rebrands As Capri Holdings In Wake Of Versace Acquisition

Michael Kors has agreed to acquire Versace for approximately $2.12 billion. The company will rename itself Capri Holdings Limited following the closing of the transaction in order to represent the three brands in its portfolio, including Jimmy Choo.

The Versace family will become shareholders of Capri Holdings. Donatella Versace will continue to lead the creative direction of the company, and CEO Jonathan Akeroyd will continue in his current role. Additionally, Michael Kors has set several goals for Versace:

  • Grow the brand to $2 billion in revenues globally;
  • Increase its global retail footprint from approximately 200 to 300 stores;
  • Accelerate e-Commerce and omnichannel development; and
  • Expand men’s and women’s accessories and footwear from 35% to 60% of revenues.

Linking the two brands may provide benefits to each other on the e-Commerce front. While received an average of about 890,000 monthly visitors over the past 12 months, saw about 170,000 monthly visitors, according to SimilarWeb. However, Versace’s audience was younger, with 39% of its total traffic coming from shoppers aged 18 to 24.


Additionally, the deal will diversify Michael Kors’ geographic presence, reducing its reliance on the Americas from 66% to 57%, while increasing the share of its portfolio in Europe from 23% to 24% and in Asia from 11% to 19%. Michael Kors aims to grow its overall revenue to $8 billion over the long term.

Luxury brand Tapestry also is expanding its presence in Asia: the retailer has taken operational control of the Kate Spade joint ventures in China, Hong Kong, Macau and Taiwan. Additionally, the company acquired the Stuart Weitzman business in Northern China from its distributor. Further international expansion includes a larger presence in Australia, including a Tapestry hub and center of excellence in Sydney.

Featured Event

Join the retail community as we come together for three days of strategic sessions, meaningful off-site networking events and interactive learning experiences.



Access The Media Kit


Access Our Editorial Calendar

If you are downloading this on behalf of a client, please provide the company name and website information below: