BY ROY ALBERT ANDRADE, K1LLER, Inc.
LONDON, UNITED KINGDOM - Michael Kors, now, Capri Holdings Limited, a global fashion luxury group, announced this morning that its New York Stock Exchange ticker symbol will be CPR and has completed its acquisition of Versace. Capri Holdings acquired Versace for a total enterprise value of Euro 1.83 billion (or approximately US$2.12 billion on the date of announcement). For additional information concerning Capri Holdings Limited and the Versace acquisition, please see the investor presentation available on the Capri Holdings Limited website at www.capriholdings.com.
“With the acquisition of Versace, we have now created one of the leading global fashion luxury groups in the world. The new name for our group, Capri Holdings, is inspired by the fabled island which has long been recognized as an iconic, glamorous and luxury destination. The island’s spectacular three rock formation, formed over 200 million years ago, is symbolic of the timeless heritage and strong foundation that is at the core of each of the three founder-led brands,” said John D. Idol, Chairman and Chief Executive Officer of Capri Holdings.
Mr. Idol continued, “Versace has long been recognized as one of the world’s leading fashion luxury houses, and is synonymous with Italian glamour and style. We are thrilled that the house of Versace is now part of the Capri Holdings family of luxury brands. We look forward to working with Chief Creative Officer Donatella Versace, Chief Executive Officer Jonathan Akeroyd, and their incredibly talented team to continue to drive Versace’s growth and success globally.”
Shawn W. Anderson