First off, did you know that Micheal Kors bought Jimmy Choo for $1.2Billion last year? Oh yes they did. The American fashion power house after obtaining Jimmy Choo, now has its sights set on the Italian Gianni Versace brand, going for a whopping $2.1Billion.
News has it that Donatella Versace who is sister to the late Gianni Versace himself will stay on to oversee the brand, having run it for over 2 decades.
Micheal Kors is looking to broaden its European horizons by reducing its American based proportion of business from 66% to 57% while its European proportion goes up to 24% from 23%, and its Asian presence from 11% to 19%.