Michael Kors Finalizes Its Versace Buy (& What That Means For You)

Last year, when news broke that Michael Kors (Holdings Limited) would be buying Versace for $2.12 billion, the internet didn’t know what to think. Did Versace just sell out? Donatella Versace’s address of the deal, posted via her personal Instagram, didn’t do much to resolve any concerns. Its creative lead assured Versace’s vision wouldn’t change, but the opposite — that it’d get better.Today, MKHL has changed its name to Capri Holdings Limited and finalized its acquisition of Versace. It edits its New York Stock Exchange sticker symbol from KORS to CPRI, as well.“With the acquisition of Versace, we have now created one of the leading global fashion luxury groups in the world,” chairman and CEO of Capri Holdings Limited John D. Idol said, via press release. “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, forme