Deals
Versace Sale to Kors Leaves Few Global Luxury Brands Available
- From Chanel to Tod’s, the field of global brands is dwindling
- Many fashion houses have stock market listing already
Gianni Versace SpA’s sale to Michael Kors Holdings Ltd. leaves a dwindling number of independent global fashion brands still up for grabs. Many big names -- from Dior to Gucci to Yves Saint Laurent -- have found shelter under the roofs of global luxury conglomerates like Kering SA or LVMH.
Now Michael Kors and U.S. rival Tapestry Inc., along with China’s Shandong Ruyi and Fosun International Ltd., are looking to emulate the European giants’ multi-brand approach, even as the number of potential targets shrinks. On Tuesday, Kors confirmed that it’s buying the Italian brand for about $2.12 billion and will adopt the name Capri Holdings Limited.