Capri Holdings, owner of Michael Kors, Jimmy Choo and Versace, has signed an agreement to acquire Italian atelier and shoe manufacturer Alberto Gozzi.
The Italian factory, owned and operated by the Gozzi family since it was founded in 1974, has produced shoes for many luxury brands over the years.
In the immediate future, the factory will develop and produce shoes for Jimmy Choo and Versace. The production of Michael Kors Collection shoes will be added at a later date.
The transaction is expected to close in the Capri Holdings’ fourth fiscal quarter, subject to specified closing conditions.
“We are excited to welcome all of Gozzi’s talented craftsmen to the Capri Holdings Group,” John Idol, chairman and CEO of Capri Holdings Limited, said. “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.”
Capri Holdings is listed on the New York Stock Exchange. Its brands cover luxury categories including women’s and men’s accessories, footwear and ready-to-wear as well as wearable technology, watches, jewellery, eyewear and fragrance products.