Everyone knows Michael Kors very well, and the way his fashion sense works. But people were shocked to see the recent news which confirmed that Michael Kors is now an official owner of Versace and he brought it in $2.1 bn.
Donatella Versace’s Stance over this move By Michael Kors
Well, this is a very shocking news for most of the people. Yet Donatella, the leading lady behind the fashion sense that Versace introduces every year is pretty much excited with the fact that brand’s new co-owner will participate in new plans. Whereas the fashion department will still remain under the control of Donatella. Micheal Kors will expand the business by developing the class of Versace and making it more prominent as a brand.
Michael Kors is reportedly closing in on an agreement to buy Versace for $2 billion this week.
— IAMFASHION (@IAMFASHlON) September 24, 2018
There are many specific focused areas where Micheal Kors along with his team is going to work. First of all the E-commerce store is the requirement of Versace. As there is very less sale of the brand over the internet and this is the most important thing right now. So this s for upgrading Versace’s selling style and making it more approachable for that who do not have a store near them.
Now this point was raised by the chief executive of Micheal Kors that the sales from Asia also needed to be more developed. For that, the focus would be on the trendy and new designs as well as accessories like handbags, shoes and etc.
Versace is a very controversial brand who’s history reports back to the death of Donatella Versace’s brother Gianni in 1997. Now this move might provide this brand another controversial turn as most of the fashion industry has already begun the tweeping sessions over this miraculous purchase.
Michael Kors having acquired Jimmy Choo + Versace: pic.twitter.com/jS54eqlMrh
— Shelby Ivey Christie (@bronze_bombSHEL) September 25, 2018
Now, why are fashion related people are comparing Volkswagen which actually stopped the production of their iconic beetle with the Versace which is getting a boast in the form of this huge investment? Besides the focus plan told by Jonathon Idol of Michael Kors seems pretty impressive. Here Versace is entering the era of evolution where they have sorted the revenue from millions to billions. This might also be a new beginning of next level fashion as well. All the best to the partners and all the Versace lovers, get ready for A Fashion Upgrade!