How will the Michael Kors takeover change Versace?

Now that Michael Kors has acquired Versace for the cheap price of $2.1 billion, what will the future of the brand look like?

If you’re aware of fashion at all, you know that Versace is synonymous with Italian glamour, opulence, and affluence. Pieces from different Versace collections are even on display right now at the Metropolitan Museum of Art for its Heavenly Bodies exhibit.

Fans of fashion are also aware of the Michael Kors brand, known especially for their comparatively affordable handbags. However, Michael Kors has now acquired Versace as Michael Kors is creating its conglomerate known as Capri Holdings.

Fans of Versace might be wondering what this means for the brand.

According to British Vogue, Donatella Versace will still be holding creative control even with this shift in ownership. Vogue also explained that they would be continuing Versace’s emphasis on the runway while expanding the accessories and footwear side of the brand. Capri Holdings told the New York Times that they will be making accessories and shoes 60 percent of brand revenues as opposed to 35 percent before.

When Michael Kors made headlines, many fashionistas were surprised since Versace is one of the few independent companies left in the industry. The fact that Versace even is now accepting help from financial investors shows how much the industry has changed in recent years.

As for now, it looks like the style and branding of Versace will remain the same — at least that is what those who love the brand are hoping for. It is strange for many as Michael Kors is not associated with luxury in the same way that Versace is, but hopefully, the brand will continue to thrive moving forward and keep providing us with extravagant pieces to ooh and ah over, even if most of us can’t afford them.

May the legacy of the House of Versace live on.