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Michael Kors makes big changes as it acquires Versace

Jonathan Akeroyd, Donatella Versace, John D. Idol. Image credit: Michael Kors/Rahi Rezvani

 

After some speculation, Michael Kors Holdings Limited has announced that it will be acquiring the outstanding shares of Italian fashion label Gianni Versace in tandem with a name change for the U.S.-based group.