Billionaire fashion designer Michael Kors announced this week that he was buying Versace in a multibillion dollar deal.
In a $2.1 billion acquisition, Kors bought the last independent Italian brands in an effort to build an empire to rival major European companies.
The New York born designer, whose mother is Jewish, dropped out of college to become a fashion designer. His company, which he will rename Capri Holdings Limited once the Versace deal is complete, also purchased Jimmy Choo in 2017.
Fashion critics believe that with these acquisitions he is “building what is virtually unknown.”
