The acquisition of Versace is expected to deliver a number of benefits for Capri Holdings. It can now expand its global group to include three iconic founder-led brands defined by fashion luxury products with a reputation for world-class design and innovation, according to a media release by Capri Holdings. It has the opportunity to help grow the group’s revenues to $8.0 billion in the long-term (Versace to $2.0 billion, Jimmy Choo to $1.0 billion and Michael Kors to $5.0 billion in revenues).
Capri Holdings wants to diversify its geographic revenues, increasing exposure to growing Asia region, said a press release from the company.
“With the acquisition of Versace, we have now created one of the leading global fashion luxury groups in the world. The new name for our group, Capri Holdings, is inspired by the fabled island which has long been recognised as an iconic, glamorous and luxury destination. The island’s spectacular three rock formation, formed over 200 million years ago, is symbolic of the timeless heritage and strong foundation that is at the core of each of the three founder-led brands,” said John D Idol, chairman and chief executive officer of Capri Holdings.
“Versace has long been recognised as one of the world’s leading fashion luxury houses, and is synonymous with Italian glamour and style. We are thrilled that the house of Versace is now part of the Capri Holdings family of luxury brands. We look forward to working with chief creative officer Donatella Versace, chief executive officer Jonathan Akeroyd, and their incredibly talented team to continue to drive Versace’s growth and success globally,” added Idol. (PC)
Fibre2Fashion News Desk – India
‘Indian footwear market is nascent and largely a trend follower’
Indian fashion industry
Organic the first choice of any environment-conscious person
Athleisure is the current buzzword in fashion
Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....
Teresa Neal, an art professional with 25 years of experience, in...
Reckon Industries is into manufacturing of textile process house machines, ...
Trützschler Nonwovens & Man-Made Fibers
Trützschler Nonwovens & Man-Made Fibers, a part of the Trützschler Group,...
Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...
Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...
Aditi Somani specialises in luxury fusion wear with international cuts and ...
Golfwear and menswear brand Devereux is set for greener pastures. Robert...
"We should not compare India and the West. There are things we do that...