{"id":2475,"date":"2018-09-27T12:01:33","date_gmt":"2018-09-27T16:01:33","guid":{"rendered":"https:\/\/lovepeacenslander.com\/?p=2475"},"modified":"2018-09-27T12:01:33","modified_gmt":"2018-09-27T16:01:33","slug":"michael-kors-sells-enough-mk-mk-mk-mk-mk-bags-to-buy-versace","status":"publish","type":"post","link":"https:\/\/lovepeacenslander.com\/index.php\/2018\/09\/27\/michael-kors-sells-enough-mk-mk-mk-mk-mk-bags-to-buy-versace\/","title":{"rendered":"MICHAEL KORS SELLS ENOUGH MK MK MK MK MK BAGS TO BUY VERSACE"},"content":{"rendered":"<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-2474\" src=\"https:\/\/i0.wp.com\/lovepeacenslander.com\/wp-content\/uploads\/2018\/09\/img_9313.jpg?resize=640%2C360&#038;ssl=1\" width=\"640\" height=\"360\" srcset=\"https:\/\/i0.wp.com\/lovepeacenslander.com\/wp-content\/uploads\/2018\/09\/img_9313.jpg?w=652&amp;ssl=1 652w, https:\/\/i0.wp.com\/lovepeacenslander.com\/wp-content\/uploads\/2018\/09\/img_9313.jpg?resize=600%2C338&amp;ssl=1 600w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/p>\n<p>Your favorite hood designer buys VERSACE for $2 Billion.<\/p>\n<p>\u2022 The handbag maker is acquiring Gianni Versace for $2.1 billion, including debt, providing Kors an entry into the exclusive high-end European luxury market.<\/p>\n<p>\u2022 As part of the deal, Donatella Versace, who has helped run the company since her brother Gianni was murdered in 1997, will stay on to oversee the brand.<\/p>\n<p>\u2022 The global market for personal luxury goods was estimated to be worth $307 billion in 2017.<\/p>\n<p>Following the close of the acquisition, Michael Kors will change its name to Capri Holdings, inspired by an &#8220;iconic, glamorous and luxury destination&#8221; island, the company said on Tuesday.<\/p>\n<p>It plans to grow Versace to $2 billion in revenue globally and increase its retail footprint from roughly 200 to 300 stores. It also expects to expand accessories and footwear from 35 percent to 60 percent of revenue.<\/p>\n<p>The deal marks one of the first times an American company has cracked the code of super high-end luxury fashion, typically controlled by <a href=\"https:\/\/www.cnbc.com\/quotes\/?symbol=MC-FR\">LVMH<\/a>, the owner of Guerlain and Givenchy, and <a href=\"https:\/\/www.cnbc.com\/quotes\/?symbol=%40PRTPLFDC16J-GB\">Kering<\/a>, the owner of Balenciaga and Yves Saint Laurent. Michael Kors had already dipped its toes in European fashion last year by buying shoe brand Jimmy Choo for $1.2 billion.<\/p>\n<p>As part of the deal, Donatella Versace, who has helped run the company since her brother Gianni was murdered in 1997, will stay on to oversee the label. Donatella, her brother Santo and daughter Allegra will also stay on as shareholders in the company. Versace&#8217;s management team will continue to be led by its CEO, Jonathan Akeroyd.<\/p>\n<p>That retention will be crucial to Kors as it looks to validate itself to other premium European brands and their visionaries.<\/p>\n<p>&#8220;We are all very excited to join a group led by [Michael Kors CEO] John Idol, whom I have always admired as a visionary as well as a strong and passionate leader. We believe that being part of this group is essential to Versace&#8217;s long-term success,&#8221; Donatella said, as part of the company statement on Tuesday.<\/p>\n<p>Michael Kors said Tuesday that following the deal, the company hopes to reduce its proportion of business in the Americas from 66 percent to 57 percent, while increasing its European business from 23 percent to 24 percent and Asian business from 11 percent to 19 percent.<\/p>\n<p>The global market for personal luxury goods was estimated to be worth $307 billion in 2017, according to recently filed registration documents for luxury marketplace Farfetch, which went public last week. The luxury market is expected to reach $446 billion by 2025, according to the data.<\/p>\n<p>Point blank period MICHAEL KORS is going high end, stay tuned.<\/p>\n<p><a href=\"https:\/\/www.cnbc.com\/2018\/09\/25\/michael-kors-to-buy-versace-laying-claim-to-european-luxury-market.html\">SOURCE<\/a><\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Your favorite hood designer buys VERSACE for $2 Billion. \u2022 The handbag maker is acquiring Gianni Versace for $2.1 billion, including debt, providing Kors an entry into the exclusive high-end European luxury market. \u2022 As part of the deal, Donatella Versace, who has helped run the company since her brother Gianni was murdered in 1997, [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":2,"featured_media":2483,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2},"_links_to":"","_links_to_target":""},"categories":[574],"tags":[1988,56,460,33,286,1994,161,1981,1983,1984,1636,1995,1987,1992,1993,1996,1991,34,32,1634,31,1989,1982,1985,1997,35,1986,1298,1299,6,70,1980,162,359,1990],"class_list":["post-2475","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-stories","tag-altier-versace","tag-breaking-news","tag-business","tag-butler-enterprises","tag-couture","tag-donatelle-versace","tag-fashion","tag-fashion-biz","tag-fashion-house","tag-fashion-label","tag-fashion-news","tag-fashion-wek","tag-giani-versace","tag-givenchy","tag-guerlain","tag-italy","tag-kering","tag-ladysteele","tag-ladysteele-inc","tag-london","tag-lovepeacenslander","tag-lvmhbalenciaga","tag-merge","tag-michael-kors","tag-milan","tag-mistahearlgrey","tag-monogram","tag-news","tag-news-stories","tag-nyc","tag-planet-ill","tag-sold","tag-style","tag-versace","tag-yves-st-laurent"],"jetpack_publicize_connections":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>MICHAEL KORS SELLS ENOUGH MK MK MK MK MK BAGS TO BUY VERSACE - Love Peace &amp; Slander<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/lovepeacenslander.com\/index.php\/2018\/09\/27\/michael-kors-sells-enough-mk-mk-mk-mk-mk-bags-to-buy-versace\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MICHAEL KORS SELLS ENOUGH MK MK MK MK MK BAGS TO BUY VERSACE - Love Peace &amp; Slander\" \/>\n<meta property=\"og:description\" content=\"Your favorite hood designer buys VERSACE for $2 Billion. \u2022 The handbag maker is acquiring Gianni Versace for $2.1 billion, including debt, providing Kors an entry into the exclusive high-end European luxury market. \u2022 As part of the deal, Donatella Versace, who has helped run the company since her brother Gianni was murdered in 1997, [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/lovepeacenslander.com\/index.php\/2018\/09\/27\/michael-kors-sells-enough-mk-mk-mk-mk-mk-bags-to-buy-versace\/\" \/>\n<meta property=\"og:site_name\" content=\"Love Peace &amp; 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