Luxury group Michael Kors Holdings has finalised its rebranding as Capri Holdings and completed its acquisition of Versace.
Michael Kors Holdings, which also includes footwear brand Jimmy Choo, acquired the Italian fashion house for $2.1bn (£1.6bn) in September last year.
It plans to increase Versace’s revenue to $2bn (£1.52bn) and grow its retail footprint by around 100 stores. The group is also seeking to grow its presence in Asia.
John Idol, chairman and chief executive of Capri Holdings, said: “The new name for our group, Capri Holdings, is inspired by the fabled island, which has long been recognized as an iconic, glamorous and luxury destination. The island’s spectacular three-rock formation, formed over 200 million years ago, is symbolic of the timeless heritage and strong foundation that is at the core of each of the three founder-led brands.”