Why Fashion Fans Hate The Michael Kors & Versace Deal
Start writing a post

Michael Kors Buying Versace Is Distressing News For Fashion Fiends

As a fashion fiend, I sympathize with all the mixed reactions regarding the sale.


On September 24th, it was announced that American fashion brand Michael Kors would be purchasing Versace for a whopping $2.12 billion. The Italian luxury brand was founded in 1978 by the late Gianni Versace and was taken over by his younger sister Donatella in 1997. Ever since Versace has continued to be a household name in luxury fashion.

Gianni and Donatella Versace

Versace is not the first luxury brand under Kors's belt. The famed American designer purchased Jimmy Choo in 2017 in efforts to build an empire to compete with LVMH Moet Hennessey Louis Vuitton (Dior, Givenchy, Fendi) and Kering (Gucci, Saint Laurent, Alexander McQueen, Balenciaga). This will help Kors tremendously, especially after 2017, a "challenging" year that brought plummeting sales and a closing of 100-125 stores.

What does this mean for Versace?

Michael Kors Holdings Limited chief executive and CEO John Idol has worked out a deal with Donatella Versace to expand the brand by releasing accessories and footwear and opening 100 new stores across the globe. The end goal is to increase Versace's revenue to $2 billion.

Michael Kors handbagCharanjit Chana

Donatella will remain Versace's creative director after the sale and will become a shareholder in Michael Kors Holdings Limited—renamed Capri Holdings Limited, after the Italian island—with her brother Santo and her daughter Allegra. The iconic designer stated that joining Kors is "a very exciting moment for Versace" and that she "believe[s] that being part of this group is essential to Versace's long-term success."

Fashion fans infuriated over the Kors/Versace deal

Fashion fans all over the world have taken social media by storm with their opinions on the Kors/Versace deal. Because the Michael Kors brand can be found at affordable retailers like Ross, Marshall's, and TJ Maxx, fans are concerned that the quality of Versace will decrease and that the luxury brand will be sold in these stores (I mean, at least it'll be more attainable... right?). Of the dissatisfied fans is Drake Bell, an actor popular for his role as Drake Parker on the Nickelodeon sitcom, Drake & Josh.

Drake Bell / Twitter

Jodie Hutton / Twitter

Zilla / Twitter

A bit melodramatic, don't you think? According to author Leslie Davis Burns, "The Versace family brings the image, glamour, and identity of the brand to this arrangement. It would be important that this association continues."

As a fashion fiend, I sympathize with all the mixed reactions regarding the sale. However, I find that it'll be good for the luxury brand in the long run. Distributing shoes and accessories under Capri will make the luxury of Versace more available to the everyday consumer, and it'll broaden Versace's horizons as a brand. It's a win-win if you ask me – that is if the glamorous image and marketing of Versace is preserved and isn't rebranded with the "tackiness" of Michael Kors brand, as fans have mentioned.

Wikimedia Commons

I'm intrigued to see what the future has in store for Versace. We just don't know what's going to happen.

Report this Content
This article has not been reviewed by Odyssey HQ and solely reflects the ideas and opinions of the creator.

Unlocking Lake People's Secrets: 15 Must-Knows!

There's no other place you'd rather be in the summer.

Group of joyful friends sitting in a boat
Haley Harvey

The people that spend their summers at the lake are a unique group of people.

Whether you grew up going to the lake, have only recently started going, or have only been once or twice, you know it takes a certain kind of person to be a lake person. To the long-time lake people, the lake holds a special place in your heart, no matter how dirty the water may look.

Keep Reading...Show less
Student Life

Top 10 Reasons My School Rocks!

Why I Chose a Small School Over a Big University.

man in black long sleeve shirt and black pants walking on white concrete pathway

I was asked so many times why I wanted to go to a small school when a big university is so much better. Don't get me wrong, I'm sure a big university is great but I absolutely love going to a small school. I know that I miss out on big sporting events and having people actually know where it is. I can't even count how many times I've been asked where it is and I know they won't know so I just say "somewhere in the middle of Wisconsin." But, I get to know most people at my school and I know my professors very well. Not to mention, being able to walk to the other side of campus in 5 minutes at a casual walking pace. I am so happy I made the decision to go to school where I did. I love my school and these are just a few reasons why.

Keep Reading...Show less
Lots of people sat on the cinema wearing 3D glasses

Ever wonder what your friend meant when they started babbling about you taking their stapler? Or how whenever you ask your friend for a favor they respond with "As You Wish?" Are you looking for new and creative ways to insult your friends?

Well, look no further. Here is a list of 70 of the most quotable movies of all time. Here you will find answers to your questions along with a multitude of other things such as; new insults for your friends, interesting characters, fantastic story lines, and of course quotes to log into your mind for future use.

Keep Reading...Show less
New Year Resolutions

It's 2024! You drank champagne, you wore funny glasses, and you watched the ball drop as you sang the night away with your best friends and family. What comes next you may ask? Sadly you will have to return to the real world full of work and school and paying bills. "Ah! But I have my New Year's Resolutions!"- you may say. But most of them are 100% complete cliches that you won't hold on to. Here is a list of those things you hear all around the world.

Keep Reading...Show less

The Ultimate Birthday: Unveiling the Perfect Day to Celebrate!

Let's be real, the day your birthday falls on could really make or break it.

​different color birthday candles on a cake
Blacksburg Children's Museum

You heard it here first: birthdays in college are some of the best days of your four years. For one day annually, you get to forget about your identity as a stressed, broke, and overworked student, and take the time to celebrate. You can throw your responsibilities for a day, use your one skip in that class you hate, receive kind cards and gifts from loved ones and just enjoy yourself.

Keep Reading...Show less

Subscribe to Our Newsletter

Facebook Comments