NF LOGO


HOME
HOME
MUSIC
MUSIC
ENTERTAINMENT
ENTERTAINMENT
VIDEOS
VIDEOS

FREE BEATS | LYRICS | NEWS | UPCOMING ARTISTS

Promote Your Songs On NaijaWhisper... Contact +2348100793291 or Mail: Naijawhisper@gmail.com

« | »

Michael Kors Buys Off Versace And Its Debt For $2.1 Billion

Posted By: author // clock September 26, 2018
red line


Share this post with your Friends on




Michael David Kors, American fashion designer, and best known for bags, watches and perfume, has bought Italian luxury fashion brand Versace for $2.1bn including the debt of the company.
In a statement released on Tuesday, Michael Kors’ CEO John D. Idol said it bought Versace for 1.83 billion euros ($2.1 billion).
“We are excited to have Versace as part of our family of luxury brands, and we are committed to investing in its growth.
With the full resources of our group, we believe that Versace will grow to over $2.0 billion in revenues. We believe that the strength of the Michael Kors and Jimmy Choo brands, and the acquisition of Versace, position us to deliver multiple years of revenue and earnings growth,” Idol said.
The creative director, Donatella Versace, who ran Versace since the 1997 murder of her brother Gianni, called the sale a “very exciting moment” and “allow Versace to reach its full potential”.
Donatella, her brother Santo and daughter Allegra will also stay on as shareholders in the company. Versace’s management team will continue to be led by its CEO, Jonathan Akeroyd.
Michael David Kors plans to grow Versace to $2 billion in revenue globally and increase its retail footprint from about 200 to 300 stores.



Share this post with your Friends on




You Need To Promote Your Music, Video, Products, or Any Promotional Biz, Feel Free To Contact CEO NAIJAWHISPER via "Whatsapp : 08100793291" || "Call : 08100793291" Or Mail us at Naijawhisper@gmail.com


RELATED POSTS

Goldenblogger


No Responses Yet

Leave a Reply

Your Name

Your Message:

NOTE:- After Dropping your comment, Wait for few minutes, your comments will appear after Moderation!!




Go Back To The Top

« | »