Wednesday, September 26, 2018

Michael Kors hit acquisition of Versace for $ $2.2 billion

The Group sets of United States Michael Kors agreed yesterday to buy the luxury fashion house Versace for 1.83 billion euros (or $ $2.2 bi), including debt, in the most recent foreign purchase of an Italian brand. Michael Kors, whose namesake brand is best known for its leather handbags, makes no secret of your ambition to increase your portfolio of high quality marks after buying the British manufacturer-needle Jimmy Choo for $ $1.2 billion last year. The Versace occurs at the moment when the American Group seeks to update the brand image and recover part of your pricing power. The combination also aims to revitalize the Versace, have net income last year. The United States undertook to buy total shares of Versace for 1.83 billion euros ($ $2.2 billion), by means of cash, debt and stock in the Michael Kors Holding Ltd, renamed Capri Holdings Ltd. the deal should be closed in the fourth fiscal quarter. /Reuters
DCI - 26/09/2018 News Item translated automatically
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