Michael Kors Holding Ltd. announced last week that it had acquired Italian fashion giant Versace for the cool sum of Dhs7.3 billion. The move came as a surprise to many in the industry given the brands’ entirely different aesthetics however it was the second major label to have been acquired by the company following the purchase of Jimmy Choo last year.
And it seems that purchasing Versace was good for Michael Kors, the brand, too. According to SEMrush, a search tracking agency dedicated to fashion brands, searches for the American fashion label skyrocketed last week. “We carried out a study to analyse how this acquisition influenced people’s interest toward these brands. The key takeaways of the study are: Before the acquisition, Michael Kors ranked 24th in the list of the most searched brand globally [the first places were for H&M, Zara and Adidas]. After the acquisition, the searches for the brand increased by 108 per cent. Right now, Michael Kors id the number eight most searched fashion brand,” the brand told WWD.
Looks like this is the beginning of a very fashionable friendship.