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Michael Kors makes high-end fashion statement with $2.2 billion Versace buy

Updated : September 25, 2018 08:42 PM IST

Michael Kors, whose namesake label is best known for its leather handbags, has made no secret of its ambition to grow its portfolio of high-end brands after buying British stiletto-heel maker Jimmy Choo for $1.2 billion last year.
The bet on Versace comes as the US group looks to refresh the more downmarket image of the Michael Kors brand and recover some of its pricing power.
Michael Kors makes high-end fashion statement with $2.2 billion Versace buy

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