Michael Kors Acquired Versace for $2.1 Billion

American fashion brand Michael Kors has just acquired Versace for a whopping amount of (hold your breath) $2.1 billion.

American fashion brand, Michael Kors has just acquired Versace for a whopping amount of (hold your breath) $2.1 billion. The news as one would expect hasn’t really gone down well with the fans of the Italian fashion house.

One of the biggest reasons for this discomfort amongst the loyal fans is because both the fashion houses have two extremely different aesthetical voices.

Versace is all about going out with their boldest and brightest prints, bodysuits and bombers. Michael Kors, on the other hand, is all things Americans; they’re a beautiful marriage of classic well-tailored suits, silk dresses and plaids.

Apart from being extremely different from one another, the brands are also deeply rooted in their countries having a heavy cultural identity.

Most of the fans of the Italian brand are quite upset with its decision and slammed them on social media. Many of them went to extreme lengths and started mourning the “death” of the luxury brand.

One ardent fan who clearly couldn’t take the news tweeted, “Gianni Versace didn’t die for his ICONIC brand to be sold to some cheap & tacky designer who is the epitome of locals knowledge on designer brands & whos bags u can’t even tell the difference between the fakes they sell in Turkey”. The rest felt sorry for the late designer and founder of Versace, Gianni.

However, not everyone threw brick brats at the brand. Many jumped in defence of Michael Kors’s affordable line as well. In fact, that’s what makes Michael Kors more accessible as compared to their competitors.

For example, an MMK dress retails for less than $200 on many occasions. On the dark side, Versace fans are fearing that their favourite brand will slide down from being a high-end luxurious brand to a common high-street brand.

Well, the war of words has definitely become uglier and we don’t know how it’s going to shape forward.

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