Michael Kors Holdings has rebranded as Capri Holdings in the advent of its acquisition of Versace.
The luxury fashion house, which owns the eponymous brand and British retailer Jimmy Choo, acquired Versace for £1.6 billion in September 2018.
Capri Holdings will increase Versace’s revenue to £1.52 billion and plans to increase its global footprint by up to 100 stores worldwide.
The group is currently seeking for an increased Asian demographic.
“The new name for our group, Capri Holdings, is inspired by the fabled island, which has long been recognised as an iconic, glamorous and luxury destination,” chief executive John Idol said.
“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.”