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(Bloomberg) — Michael Kors has an aggressive plan to about-face Versace into a multibillion-dollar business. Can it accomplish it work?

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Kors, which is alteration its accumulated name to Capri Holdings Ltd., arise Tuesday that it would buy Gianni Versace SpA for about $2.2 billion. It categorical a plan to added than bifold the high-end brand’s sales by aperture about 100 new stores, advance in e-commerce and affairs added accessories and cossack beneath the Versace label. It’s additionally attractive to aggrandize in Asia, eyeing markets including Japan and South Korea.

Kors Chief Controlling Officer John Idol wants to about-face Versace into a appearance characterization with $2 billion in revenue, igniting apropos that a business that admeasurement risks diluting the affluence brand. That would accompany it into the ballpark of battling Prada SpA, but still beneath than a third the admeasurement of Kering SA’s Gucci label. Admiral said they apprehend Versace to be an $850 actor business this year.

“If you attending at some of the added Italian affluence brands — which will abide nameless — they are accomplishing in the billions of euros today,” Idol said on a appointment alarm about the deal. “So Versace is awfully arrested and that’s absolutely activity to change now that they’ll accept the assets of Capri abaft them.”

That agency the Versace of the approaching may attending a bit different, alike admitting Donatella Versace will abide on as artistic director. It will accept a lot added stores, a lot added handbags and — admiral achievement — a lot added customers.

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Here’s a attending at some of the better changes to come:

The new buyer will attending to abound Versace’s sales of accessories like handbags, covering appurtenances and shoes significantly, to 60 percent of the brand’s absolute business from aloof 35 percent today.

The move will advance the label, not best accepted for items like satchels and wallets, afterpiece to an aggressively aggressive market. Versace is acclaimed for its blatant bizarre ready-to-wear accouterment advised by Donatella, with her buzzy aerodrome shows alluring absorption for its audacious alternative of tops, dresses and gowns. Idol said the abeyant advance in accessories will accept the “biggest impact” on the business.

The affluence backpack amplitude has already been accepting added awash as brands about-face their focus abroad from the arbitrary business of artist clothing. Burberry Group Plc aftermost year assassin a backpack artist from Dior and bought its own leather-goods branch in Tuscany. LVMH broke brilliant artist Hedi Slimane to booty over its Celine brand, accepted for its focus on glassy accessories, and has said it wants to bifold or amateur the label’s assemblage sales over the aing bristles years. Kering’s Saint Laurent has additionally pushed into covering appurtenances in contempo years, and now that group’s Balenciaga and Alexander McQueen brands are aggravating to do the same.

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“The accessories ancillary of the business is actual underpenetrated, so there are acceptable opportunities there. But they’re not alone,” said John Guy, an analyst at MainFirst Bank. “Not all brands are not activity to accomplish what they set out to do.”

Versace’s online business is about “nonexistent,” according to Idol. Kors has already invested about $100 actor in architectonics an e-commerce belvedere that can be acclimated by assorted brands, and the aggregation will bound accommodate Versace into the system. The CEO said he hopes online sales will eventually absolute added than $100 million, admitting he did not accord a time frame.

Kors will additionally addition Versace’s absolute abundance agile 50 percent to about 300. New locations won’t be as ample as the above flagships Versace has in cities like Milan, London and New York and they’ll focus on “untapped markets.” Idol bidding affair about the label’s shops, acquainted that they’re not as advantageous as they should be.

Asia represents a advance befalling for Versace, with China arch a affluence backlash that’s appropriation companies including Prada, LVMH and Kering. China’s growing average chic is a key ambition for flush retailers. The appeal for exceptional appurtenances is accepting absorption as an accretion cardinal of Chinese families cantankerous the assets beginning to become affluent.

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One affair in China is the abridgement of administration ascendancy as third-party affluence appurtenances retailers in the country authority affairs rights to Versace products, said Bloomberg Intelligence analyst Catherine Lim. The alliance could actualize an befalling for the affluence cast to buy aback the Chinese rights afore accretion there, she said.

Idol articular Japan and Korea as added Asian markets with a lot of potential. Versace larboard Japan in 2009 and alternate in 2015 with a few boutiques. The brand’s attendance in Korea is “very, actual small,” the controlling said.

“The better claiming for Versace will be to re-energize the cast and accomplish it accordant to adolescent generations, decidedly in Europe and Asia,” Pascal Martin, accomplice at OC&C Action Consultants, said in a agenda Wednesday.

Kors is affairs Versace aback the cast is at its hottest in years afterwards a alternation of moves that put the appearance abode aback on the map.

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In a accolade to architect Gianni aftermost September at Milan Appearance Week, Donatella brought aback the best iconic looks from his collections spanning the 1990s, including cottony blouses bond bobcat prints with images of bizarre architecture. She bankrupt the accumulating by walking the aerodrome herself, arm-in-arm with 1990s models including Carla Bruni and Cindy Crawford. Versace followed up with a viral account by Vogue, and co-hosted New York’s Met Gala in May, bathrobe such amusing media icons as Gigi Hadid and Kim Kardashian for the event.

Some Kors investors will acknowledge the advance into riskier fashion, while others arise wary. The company’s shares bashed Monday as accord belief swirled and acquired about 2 percent on Tuesday, afterwards falling initially on the acquisition’s announcement. Meanwhile, Prada investors weren’t ashamed by the acute aggressive threat, as the company’s shares jumped as abundant as 8.5 percent in Hong Kong trading on Wednesday.

“We accept and acclaim the admiration to anticipate abnormally about what a avant-garde portfolio means, but with Versace, investors will see added appearance risk,” David Schick, an analyst at Consumer Edge, wrote in a agenda to clients.

Donatella approved to back a bulletin of adherence aback she aggregate agents in a affair at the brand’s Milan address this afternoon. She acicular out that as shareholders in the anew renamed Capri, the ancestors charcoal committed to the business.

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(Adds Asia action in additional branch and abstracted Asia section.)

–With abetment from Daniela Wei.

To acquaintance the reporters on this story: Kim Bhasin in New York at [email protected];Robert Williams in Paris at [email protected]

To acquaintance the editors amenable for this story: Anne Riley Moffat at [email protected], Jeff Sutherland, K. Oanh Ha

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©2018 Bloomberg L.P.

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