Are Italian fashion names getting to change?



Analysts point out that after successful acquisition between two well-known companies, other Italian fashion names are on the lookout. Will they have any new developments?

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  • The result of a big deal
Analysts point out that after successful acquisition between two well-known companies, other Italian fashion names are on the lookout. Will they have any new developments?

Are Italian fashion names getting to change?

Ph: Versace

The result of a big deal

One of top Italian fashion names - Versace founded by Gianni Versace in 1978. The primary objective of this Italian clothing brand is to produce Italian leather accessories and luxury accessories. It also has Versace Collection (mainly in the US), Versus Versace and Versace Jeans. The Versace brand is renowned for its innovative, striking designs and bright colors. On September 25, 2018, Michael Kors announced the intention to acquire all outstanding shares in Gianni Versace S.p.A for $2.12 billion.

Michael David Kors is an American sports fashion designer. He is the honorary president and creative director for Michael Kors Holdings Limited (NYSE: KORS). The company specializes in selling accessories, watches, jewelry, shoes, and perfumes for both men and women.

After many rumors, Michael Kors finally have announced of acquiring the famous Italian brand - Versace that worth up to $2.1 billion. Blackstone, which owns 20 percent of Versace, sold the entire stake to Michael Kors. The Versace family, which owns the remaining 80% and will continue to play an essential role in the company after the deal ended, Donatella continues to be the creative director and Versace Jonathan Akeroyd is still the CEO.

After Versace reached an agreement with Michael Kors, Il Sole 24, an Italian national daily newspaper, reported that analysts had suggested paying attention to other Italian fashion names. Italian fashion names that announce new projects or reorganize. Piazza Affari revealed that there is no news about this. But a few Italian fashion names that will be noticed is obvious. Recently, there are a few rumors about Tods. Analysts say new projects that announced may be steps toward sales.

Are other Italian fashion names taking new significant steps? What do you think about it? Wait and see what will go on.

 

Are Italian fashion names getting to change?

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