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Michael Kors buys Versace, All is Not Lost

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On September 25th, 2018 Michael Kors Holding bought Versace for $2.1 billion. The newly born, first American Luxury conglomerate made this purchase after buying Jimmy Choo last summer for $1.2 billion. Michael Kors Holding—now to be called Capri Holdings—managed to buy the struggling Italian luxury brand despite both Kering and LVMH showing interest. With this purchase, ...