Michael Kors buys Versace in $2B deal
The deal announced Tuesday follows the New York handbag maker’s $1.35 billion acquisition last year of the shoemaker Jimmy Choo.
Michael Kors Holdings Ltd., like others in the fashion industry, is trying to fire up sales by tacking on big name brands like the globally revered Versace,
Tapestry, once known as Coach, owns Stuart Weitzman and last year it acquired Kate Spade.
By all accounts, Kors has successfully melded Jimmy Choo into its portfolio, putting up big sales in the most recent quarter.
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