Capri Holdings Ltd, formerly Michael Kors Holdings Ltd, has completed acquisition of Versace, an Italian luxury fashion company, for a total enterprise value of 1.83 bn euro (approx $2.12 bn). Global fashion luxury group Michael Kors has changed its name to Capri Holdings beginning January 2, 2019, with ticker symbol CPRI on New York Stock Exchange. The acquisition of Versace is expected to deliver a number of benefits for Capri Holdings. It can now expand its global group to include three iconic founder-led brands defined by fashion luxury products with a reputation for world-class design and innovation, according to a report by Capri Holdings. It has the opportunity to help grow the group’s revenues to $8.0 bn in the long-term (Versace to $2.0 bn, Jimmy Choo to $1.0 bn and Michael Kors to $5.0 bn in revenues). Capri Holdings wants to diversify its geographic revenues, increasing exposure to growing Asia region, said a report from the company.