Luxury fashion group Michael Kors Holdings Limited has been renamed to Capri Holdings Limited and will trade on the New York Stock Exchange under a new stock market ticker symbol CPRI.
The news follows on the completion of its acquisition of Italian fashion house Versace which it had purchased in September 2018 for a cool $2.8 billion.
'Versace has long been recognized as one of the world's leading fashion luxury houses and is synonymous with Italian glamour and style,' said John Idol, chairman, and chief executive officer of Michael Kors. 'We are thrilled that the house of Versace is now part of the Capri Holdings family of luxury brands.'
Capri Holdings which also bought luxury shoe label Jimmy Choo for $900m in 2017, anticipates growing its revenues to $8bn and increasing its presence in Europe and Asia while becoming a luxury fashion conglomerate to rival Kering and LVMH.
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