Michael Kors owner to acquire Italian shoe manufacturer
Michael Kors owner Capri Holdings is to acquire Italian shoe manufacturer Alberto Gozzi.
The transaction is expected to complete in the company’s fourth quarter.
Owned and operated by the Gozzi family since it was established in 1974, Alberto Gozzi has produced high-end shoes for many of the world’s luxury brands. The factory will develop and manufacture shoes for Capri Holdings’ Jimmy Choo and Versace brands and will also begin making footwear for Michael Kors at a later date.
John Idol, chairman and chief executive of Capri Holdings, said: “We are excited to welcome all of Gozzi’s talented craftsmen to the Capri Holdings Group. “This acquisition allows us to further align with the industry’s best practices and to strengthen our technical competencies while cementing our position in the global luxury market.”
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