In big (like billions of dollars big) fashion moves this week, Michael Kors announced its acquisition of Versace in a $2.12 billion deal. Along with the sale, Michael Kors Holdings will be renamed Capri Holdings, whose portfolio now includes three major fashion players: Michael Kors Collection, Jimmy Choo and Versace.
Fans of the iconic Italian luxury brand wondered what this meant for the future of the house and what role creative director and face of the label, Donatella Versace, would have. To address these rumours, she released a personal statement via Instagram to reassure the fashion world that the Versace style would remain as glamorous as ever and that she wasn’t going anywhere.
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