Michael Kors' multibillion-dollar plans for Versace

Michael Kors will look to grow Versace's (above) sales of accessories like handbags, leather goods and shoes.
Michael Kors will look to grow Versace's (above) sales of accessories like handbags, leather goods and shoes.PHOTO: AGENCE FRANCE-PRESSE

NEW YORK/PARIS •Michael Kors has an ambitious plan to turn Versace into a multibillion-dollar business. Can it make it work?

Kors, which is changing its corporate name to Capri Holdings, announced on Tuesday that it would buy Gianni Versace for about US$2.2 billion (S$3 billion).

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A version of this article appeared in the print edition of The Straits Times on September 28, 2018, with the headline 'Michael Kors' multibillion-dollar plans for Versace'. Subscribe