Michael Kors agrees to buy Versace for €1.83 billion

Global fashion brand Michael Kors has agreed to buy Italian luxury label Versace for €1.83 billion. (AFP)
Updated 25 September 2018
Follow

Michael Kors agrees to buy Versace for €1.83 billion

MILAN: US fashion group Michael Kors has agreed to buy Versace in a deal valuing the revered designer at $2 billion including debt, the companies said on Tuesday, making it the latest Italian brand to fall into foreign hands.
Michael Kors, whose namesake label is best known for its leather handbags, has made no secret of its ambition to grow its portfolio of high-end brands after buying British stiletto-heel maker Jimmy Choo for $1.2 billion last year.
Versace, known for its bold and glamorous designs and its Medusa head logo, was one of a clutch of family-owned Italian brands cited as attractive targets at a time when the luxury industry is riding high on strong demand from China.
“We believe that the strength of the Michael Kors and Jimmy Choo brands, and the acquisition of Versace, position us to deliver multiple years of revenue and earnings growth,” John Idol, chairman and CEO of Michael Kors said.
As part of the deal, Michael Kors agreed to buy all of Versace’s outstanding shares for a total enterprise value of €1.83 billion ($2.2 billion), to be funded in cash, debt and shares in Michael Kors Holding Ltd, which will be renamed Capri Holdings Ltd.
US private equity firm Blackstone, which bought 20 percent of Versace back in 2014, will fully exit its investment.
The Versace family, which currently owns 80 percent of the fashion house via a holding company called Givi, will receive €150 million of the purchase price in Capri shares.
“We believe that being part of this group is essential to Versace’s long-term success. My passion has never been stronger,” said Donatella Versace, sister of the company’s late founder, and artistic director and vice president of the Milan-based group.
After the deal, Versace CEO Jonathan Akeroyd will remain at the helm of the company, while Donatella Versace will “continue to lead the company’s creative vision,” Idol added.
The deal is expected to close in the fourth fiscal quarter, subject to regulatory approvals.
Michael Kors said it plans to grow Versace’s global sales to $2 billion globally, boost its retail footprint to 300 stores from around 200 at present and accelerate its e-commerce strategy. It also plans to raise the share of higher-margin accessories and footwear to 60 percent of sales from 35 percent.
Versace does not disclose its financial details, but documents deposited with the Italian chamber of commerce show that last year it posted sales of €668 million and earnings before interest, tax, depreciation and appreciation of €45 million.


Top fashion trends for 2025: From power suits to parachutes and animal print everything

Updated 09 January 2025
Follow

Top fashion trends for 2025: From power suits to parachutes and animal print everything

DUBAI: From power suits to parachutes and animal print everything, Claire Carruthers looks at what this year’s Spring/Summer collections have in store 

Powder pink 

Rather than the bold Barbie-inspired hot pink trend of recent years, 2025 will see a softer, playfully versatile shade with greater staying power and easier wardrobe integration. Simone Rocha quashed any antiquated gender rules with a spring/summer collection that proposed relaxed tailoring for the boys in a subtle blush, while Alaïa presented cocoon candy floss pelts, shimmering oyster mesh dresses and puffy quilt skirts in the palest pink. Loewe subverted the norm and pink’s traditionally sweet associations with larger-than-life shapes and floral print bell-shaped dresses. The collective result suggests an air of both optimism and nostalgia — fashion simply made for embracing joy. 

A look by Carven. (Getty Images)

Working overtime  

If professional endeavours top your New Year resolutions lists, make sure your wardrobe complements your ambitions. Stride into boardrooms with cool self-assurance in sharp tailoring, served up best by Anthony Vaccarello’s outstanding SS25 collection for Saint Laurent (pictured): think iterations of statement suiting paired with leather bomber jackets or Wall Street trench coats — an Eighties power dressing redux complete with shirt, tie and oversized eyewear. At Bottega Veneta, silhouettes were languid and relaxed, tapping into one of the year’s most wearable micro trends: artful layering. Experiment with pants under asymmetrical wrap skirts, topped with tunic shirts or supersized suit jackets. Remember, new-look office wear aims for balance — masculine with feminine — and contrasting fabrications, always worn with confidence. 

Saint Laurent takes statement suiting to the next level. (Getty Images

 
Animal instincts  

While its cultural cachet may have fluctuated over time — from Hollywood starlet to gaudy, It-girl status, to sartorial sin and back again — animal print has remained a constant in fashion’s consciousness. Iconic moments made all the more memorable due to its presence include Naomi Campbell wearing head-to-toe leopard print in Guy Laroche’s autumn/winter 1991 show; Kate Moss showing the world how a leopard print coat can look great with just about anything; and Scary Spice claiming big cat prints as her girl-power signature. 2024 was a big year for leopard (the streets were flooded with the predatory motif), and for 2025, designers have added other abstract animal prints to the pack: see snake shift dresses, coats and bags at Dries Van Noten; zebra pencil skirts, loafers and mules at Jacquemus; and elevated spots on modern silks at Nanushka. 

A look by Tory Burch. (AFP)

Parachute parade 

From a palette inspired by light clouds set against a blue sky to swaths of dramatic drapery, fashion’s antidote to ‘hard times’ comes in the form of maximalist bubble-hem dresses and eclectic separates reminiscent of deployed parachutes. Unlike last year, which looked at the trend through an Eighties lens (puffballs galore), 2025’s offerings focus on shape and form, with outfits primed to inspire escapism and elation. Look to It brands such as Chloé, Issey Miyake (pictured), Loewe and Stella McCartney for ice-cream toned skirts and enveloping trains, flowing parka jackets, and plenty of exaggerated draping on maxi dresses. 

Issey Miyake's runway creation. (AFP)

Make mine a mocha  Pantone’s Color of the Year 2025 — Mocha Mousse — is a deliciously evocative brown that blends shades of toffee, cacao and coffee. Think of it as the perfect balance between comfort and luxury. Seasonless, genderless and a breeze to mix with existing pieces of your wardrobe (pair with pale yellow, or with other earth tones including burgundy and olive green), Mocha Mousse also taps into the ‘polished minimalism’ movement that has dominated runways over the past couple of years. For SS25, the shade was used by Tod’s, Max Mara and Hermès (pictured) via tonal tailoring, suede jackets and soft leather accessories. Pantone describes it as a reflection of our connection to the natural world, “infused with an inherent sophistication and earthy refinement.” 

For SS25, the shade was used by Tod’s, Max Mara and Hermès (pictured). (Getty Images)

Balance your checks 

Threatening to replace animal as the reigning print of 2025 is plaid, which may be synonymous with fall, but its presence in the spring collections takes on a contemporary charm. Acne (pictured) did it best via soft check blazers, bow-detail skirts paired with button-up shirts in contrasting colors and spliced maxi dresses overlayed with sheer white chiffon. Elsewhere, designers including Dior coupled checks with a throwback Nineties palette and styling — a nod to a rebellious Nirvana-inspired spirit, perhaps — or embraced a classic, sophisticated tweed (Chanel). Looking for something to pair with slouchy denim? Take your cue from Bottega Veneta and add an over-oversized check shirt. 

Threatening to replace animal as the reigning print of 2025 is plaid. (Getty Images)

Luck be a lady 

The jacket silhouette and twee signatures that Chanel (pictured) has held strong for decades serve as a foundation for this year’s ladylike look. Faux-fur coats and polka dot twinsets (Valentino), retro chunky stripes (Max Mara) and pussy bow blouses (Louis Vuitton) signal a return to refinement — just add a modern pillbox hat (Chloé, Marni and Loro Piana), a top-handle bag, a feather or lace collar, gloves and peep-toe heels (although not all at once). While SS25’s ladylike look may nod to a 1950’s tradwife uniform, this is clothing designed through a thoroughly modern gaze — a nuanced interpretation with an intangible coolness.  

The jacket silhouette and twee signatures that Chanel (pictured) has held strong for decades serve as a foundation for this year’s ladylike look. (AFP)

Elevated athleisure 

Luxury fashion and sportswear brands began collaborating in the Eighties and ever since have enjoyed a mutually beneficial relationship, thriving through traded creativity and profitability. Almost every season, designers offer a new spin on athleisure and SS25 is no exception. Anoraks, parkas and hoodies were everywhere on the runways, often paired with a cocktail dress (Prada, Rabanne), or something equally elevated. The high-low contrast will be key this year. At Dior, Maria Grazia Chiuri wanted to emphasize intention and function when it comes to dressing, and reinvented various pieces from the house’s archive in a way that allows the wearer to move freely. Think of a luxury take on leotards, tracksuits and relaxed tailoring. 

Ralph Lauren is known for its athleisure. (AFP)

 


Georgina Rodriguez promotes collaboration with Saudi perfume label Laverne

Updated 08 January 2025
Follow

Georgina Rodriguez promotes collaboration with Saudi perfume label Laverne

DUBAI: Argentinian model and reality TV star Georgina Rodriguez took to Instagram to announce that her debut fragrance collaboration with Saudi perfume label Laverne is back in stock.

“SENSE my new perfume with Laverne is back in stock,” she posted, alongside a photo of herself – dressed in an eye-catching red dress while holding the fragrance bottle.

On the official website, the label describes Sense as the result of a collaboration between Dalia Eisem and Rodriguez that lasted more than a year and included the creation of more than 740 samples.

“Finally, Georgina chose the perfect combination that embodies all her feelings in a perfume bottle,” it said, noting that the fragrance included notes of blackcurrant, mandarin, jasmine, cashmere and orange blossom.

In March 2023, Rodriguez – the longtime partner of legendary footballer Cristiano Ronaldo – collaborated with Laverne to become the face of their new fragrance, Blue Laverne.


Saudi star Model Roz makes guest appearance on Netflix’s ‘Dubai Bling’

Updated 08 January 2025
Follow

Saudi star Model Roz makes guest appearance on Netflix’s ‘Dubai Bling’

DUBAI: Los Angeles-based Saudi influencer Model Roz made a surprise appearance in season three of Netflix’s gossip-filled drama show “Dubai Bling,” which premiered on Jan. 8.

The model, who boasts 15.2 million Instagram followers, shared a short clip of her cameo on social media.

In the video, Mahira Abdel Aziz, the Emirati Egyptian newcomer to the show, introduced Roz to the cast, saying” “Ladies and gentlemen, all the way from LA... Roz. We are happy to have her here in Dubai.” Roz responded by bowing gracefully and thanking the cast for their warm welcome.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

A post shared by Netflix MENA (@netflixmena)

“Welcome to Dubai,” added Zeina Khoury, a real estate agent and founder of the fashion brand I Am The Company.

“It’s my first time in Dubai, so all of you need to show me around,” Roz replied with a smile.

The scene then shifted to Roz sitting with Loujain Adada as they got their makeup touched up. 

Roz seized the moment to ask, “What happened the other day in the fitting? I heard your voices and sensed some stress.”

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

A post shared by Netflix MENA (@netflixmena)

Adada brushed off the question, saying: “Stress? Nothing happened. I don’t think it concerns you in any way, so don’t worry.”

Roz responded quickly, “Yes, I stay away from these things.” 

“I’m telling you now, don’t be a gossip. I really hate that kind of stuff,” Adada cautioned.

Roz clarified: “It’s not my thing. I just wanted to make sure everything is okay.”

The program has been praised by critics for its ability to attract a multicultural audience due to its diverse cast, as well as merging English and Arabic dialogue, often in the same sentence.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

A post shared by(@model_roz)

Season three of “Dubai Bling” features a mix of returning cast members, new faces and notable departures. Familiar faces such as Adada, Khoury, Mona Kattan, Ebraheem Al-Samadi, Safa and Fahad Siddiqui, Farhana Bodi, Marwan Al-Awadhi (DJ Bliss), and Danya Mohammed return to share their glamorous lives. 

Joining the cast are media personality Abdel Aziz and Iraqi singer and actress Jwana Karim.

Saudi TV presenter Lojain Omran, along with radio host Kris Fade and his wife Brianna Fade, have exited the show.

Roz shot to fame in 2019 when she modelled for a Victoria’s Secret’s Pink campaign.

The model’s Instagram feed is littered with photographs of her various advertising campaigns, as well as visits to many a product launch party — from NYX Cosmetics events to TikTok gatherings. 


Saudi couturier Mohammed Ashi dresses stars at the Golden Globes

Updated 06 January 2025
Follow

Saudi couturier Mohammed Ashi dresses stars at the Golden Globes

DUBAI: Saudi couturier Mohammed Ashi dressed three stars at Sunday night’s Golden Globes in Hollywood, with Mindy Kaling, Kristen Bell and Ari Graynor showing off looks by the Paris-based designer.

Kaling showed off a gold column gown from Ashi Studio, hailing from the label’s Spring/Summer 2024 couture collection.

Mindy Kaling showed off a gold column gown from Ashi Studio, hailing from the label’s Spring/Summer 2024 couture collection. (Getty Images)

The first designer from the Gulf to take part in Paris Haute Couture Fashion Week, Ashi also dressed Graynor in a risque look complete with cutouts across the bodice. The all-black gown was plucked from his label’s Fall/Winter 2023 couture collection.

For her part, nominee Bell shimmered in a gold, beaded Ashi Studio gown that boasted a peplum and rounded neckline.

Kristen Bell on the red carpet at the Golden Globes. (Getty Images)

With some of Hollywood's most fashion-forward stars up for awards this year, it's going to be an eventful season. The Golden Globes gets it all started, with stars — and their stylists — marking their territory at one of Hollywood's splashiest events, the Associated Press reported.

“Wicked” star Ariana Grande showed off a pale yellow Givenchy haute couture look. The gown was in crafted in silk with a hand-beaded bodice — a vintage 1966 gown from what the designer calls the Audrey Hepburn era of Givenchy.

Ariana Grande showed off a pale yellow Givenchy haute couture look. (Getty Images)

Cate Blanchett looked like an awards statue come to life in a glistening gold gown with a ruched top by Louis Vuitton — one that she also wore at the Cannes Film Festival. New gold stones were added to the gown, designed by Nicholas Ghesquière, to freshen the look.

Cate Blanchett and Ari Graynor on the red carpet. (Getty Images)

Where Blanchett glistened in gold, Nicole Kidman sparkled in silver, in a daring, one-shoulder backless Balenciaga gown. The “Babygirl” star polished off the look with a chic, voluminous half-ponytail.

Nicole Kidman sparkled in silver, in a daring, one-shoulder backless Balenciaga gown. (Getty Images)

Globes host Nikki Glaser zeroed right in on Timothee Chalamet, one of the hottest stars in Hollywood, in her monologue, telling him: “You have the most gorgeous eyelashes on your upper lip.” As for the clothes on his body, Chalamet went more traditional than other recent trips to the carpet, wearing a sleek Tom Ford black suit with embellished jacket, a white shirt and a blue scarf tossed around his neck (or was it a tie?).

Zendaya in a custom Louis Vuitton ballgown paired with Bulgari jewelry. (Getty Images)

Always a winner on the red carpet, actress Zendaya provided yet another high fashion moment at the Golden Globes in a custom Louis Vuitton ballgown paired with Bulgari jewelry.


Georgina Rodriguez steals the spotlight at Dubai event

Updated 28 December 2024
Follow

Georgina Rodriguez steals the spotlight at Dubai event

DUBAI: Argentine model Georgina Rodriguez made a head-turning appearance this week at the Globe Soccer Dubai Awards 2024, held as part of the Dubai International Sports Conference 2024.

She attended the event alongside her longtime partner, Cristiano Ronaldo, who was honored with two awards: Best Middle East Player 2024 and All-Time Top Goal Scorer.

Rodriguez turned heads in a fitted black dress featuring a sweetheart neckline and lace-detailed sleeves. She completed her look with black pointed-toe heels and carried a matching black purse.

The couple was joined by Ronaldo’s eldest son, Cristiano Jr., making it a family affair at one of the year’s most celebrated sports events.

Upon accepting the award, Ronaldo, who plays for Saudi Arabia’s Al-Nassr FC, expressed his gratitude on stage, saying: “For me, it is a big pleasure to win this trophy. It is very different than the other ones. It is a pleasure to be in this gala. (There are) a lot of champions here, young generations and old generations.”

He continued: “I have to say thank you to my own family, my kids. They are all here in Dubai. My oldest son is there. My wife is here. She’s my lovely support all the time to carry on to play. In one month I’m gonna be 40 years old but I’m not finished yet. I will continue because I want to win titles, I want to be a champion.”

After the event, Ronaldo shared pictures with his 646 million Instagram followers, captioning the post: “A great way to end the year. Thank you to my teammates, staff, to everyone who has supported me along the way, and especially to my family. There is still more to come.”

The couple were later spotted at Nobu Dubai in Atlantis the Palm, where there was also Brazilian football player Neymar and former Italian footballer Alessandro Del Piero.

Rodriguez and Ronaldo traveled to Dubai following their family vacation in Lapland, Finland, where they celebrated the festive season.

The couple shared glimpses of their activities on Instagram, including an in-house dinner with their children, sledding adventures, ice baths and more, giving fans a peek into their holiday moments.