#317 euros but it's an investment for the future

[torak-and-human]

-frantically repeating "I love my animals" as I drop several hundreds worth of euros on treats and toys-

[cool-cillian-murphy]

Hybrid Mattress COVID-19 Scenario - The Market Gets a Reality Check

Brief Summary of Hybrid Mattress: Hybrid mattresses are the combination of different layers such as memory foam layers along with an innerspring system. Hybrid mattresses are the best way to experience the pressure relieving benefits as well as healthy sleep. Increasing construction of smart cities results in increasing demand for high comfort furniture and high availability due to the highly developed retail market in developed countries such as the United States and the United Kingdom are boosting the growth of the market. Additionally, a growing number of third-party retail outlets with omnichannel presence and emergence of the hybrid mattress with comfort layers such as gel memory foam, polyfoam, and others have been supplementing the growth of the market. However, presence alternatives and intense competition among established key players and high cost associated with the hybrid mattress are the factors that have been limiting the overall growth of the market.

 Latest Research Study on Global Hybrid Mattress Market published by AMA, offers a detailed overview of the factors influencing the global business scope. Hybrid Mattress Market research report shows the latest market insights with upcoming trends and breakdown of the products and services. The report provides key statistics on the market status, size, share, growth factors, Challenges and Current Scenario Analysis of the Hybrid Mattress. This Report also covers the emerging player’s data, including: competitive situation, sales, revenue and global market share of top manufacturers are Tempur Sealy International (United States),Mlily Mattress (United States),Serta, Inc (United States),Simmons Bedding Company LLC. (United States),Sleemon (China),Sinomax USA Inc (United States),Corsicana Mattress Company (United States),Kingsdown, Inc. (United States),Restonic (United States),.

Free Sample Report + All Related Graphs & Charts @ : https://www.advancemarketanalytics.com/sample-report/11593-global-hybrid-mattress-market-1 Hybrid Mattress Market Report offers a detailed overview of this market and discusses the dominant factors affecting the growth of the market. The impact of Porter's five armies on the market over the next few years has been discussed for a long time in this study. We will also forecast global market size and market outlook over the next few years. Types of Products, Applications and Hybrid Mattress Market Report Geographical Scope taken as the Main Parameter for Market Analysis. This Research Report Conducts an assessment of the industry chain supporting this market. It also provides accurate information on various aspects of this market, such as production capacity, available production capacity utilization, industrial policies affecting the manufacturing chain and market growth. The Global Hybrid Mattress Market segments and Market Data Break Down are illuminated below: by Application (Home Use, Commercial Use), Distribution Channel (Direct Sale (Online, Offline), Third-Party Retail Outlets, Others), Size (King (76" x 80"), Cal King (72" x 84"), Queen (60" x 80"), Full XL (54" x 80"), Full (53" x 75"), Twin XL (38" x 80"), Twin (38" x 75")), Comfort (Cushion Firm, Cushion Firm Pillow Top, Extra Firm, Firm, Firm Euro Top, Others) What's Trending in Market: An Emergence of Hybrid Mattress with Comfort Layers such as Gel Memory Foam, Polyfoam and others

Challenges: High Cost Associated with Hybrid Mattress

Restraints: Presence Alternatives in the Operating Market

Intense Competition among Established Key Players

 Market Growth Drivers: High Availability due to highly developed retail Market in Developed Countries Such as the United States and the United Kingdom

Growing Number of Third-Party Retail Outlets with Omni Channel Presence

Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa

Country Level Break-Up: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand etc. Enquire for customization in Report @: https://www.advancemarketanalytics.com/enquiry-before-buy/11593-global-hybrid-mattress-market-1 Strategic Points Covered in Table of Content of Global Hybrid Mattress Market:

Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Hybrid Mattress market

Chapter 2: Exclusive Summary – the basic information of the Hybrid Mattress Market.

Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges & Opportunities of the Hybrid Mattress

Chapter 4: Presenting the Hybrid Mattress Market Factor Analysis, Post COVID Impact Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.

Chapter 5: Displaying the by Type, End User and Region/Country 2015-2020

Chapter 6: Evaluating the leading manufacturers of the Hybrid Mattress market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile

Chapter 7: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions (2021-2026)

Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source Finally, Hybrid Mattress Market is a valuable source of guidance for individuals and companies in their decision framework. Data Sources & Methodology The primary sources involves the industry experts from the Global Hybrid Mattress Market including the management organizations, processing organizations, analytics service providers of the industry’s value chain. All primary sources were interviewed to gather and authenticate qualitative & quantitative information and determine the future prospects. In the extensive primary research process undertaken for this study, the primary sources – Postal Surveys, telephone, Online & Face-to-Face Survey were considered to obtain and verify both qualitative and quantitative aspects of this research study. When it comes to secondary sources Company's Annual reports, press Releases, Websites, Investor Presentation, Conference Call transcripts, Webinar, Journals, Regulators, National Customs and Industry Associations were given primary weight-age. Get More Information: https://www.advancemarketanalytics.com/reports/11593-global-hybrid-mattress-market-1 What benefits does AMA research studies provides?

·        Supporting company financial and cash flow planning

·        Latest industry influencing trends and development scenario

·        Open up New Markets

·        To Seize powerful market opportunities

·        Key decision in planning and to further expand market share

·        Identify Key Business Segments, Market proposition & Gap Analysis

·        Assisting in allocating marketing investments

Definitively, this report will give you an unmistakable perspective on every single reality of the market without a need to allude to some other research report or an information source. Our report will give all of you the realities about the past, present, and eventual fate of the concerned Market.

Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Europe or Asia. About Author:

Advance Market Analytics is Global leaders of Market Research Industry provides the quantified B2B research to Fortune 500 companies on high growth emerging opportunities which will impact more than 80% of worldwide companies' revenues.

Our Analyst is tracking high growth study with detailed statistical and in-depth analysis of market trends & dynamics that provide a complete overview of the industry. We follow an extensive research methodology coupled with critical insights related industry factors and market forces to generate the best value for our clients. We Provides reliable primary and secondary data sources, our analysts and consultants derive informative and usable data suited for our clients business needs. The research study enable clients to meet varied market objectives a from global footprint expansion to supply chain optimization and from competitor profiling to M&As. Contact Us:

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[jonathanbelloblog]

The Future for Small Cars in Europe and Beyond: Lots of EVs

A lack of profits is seeing European automakers jettison or heavily revise their plans for future generations of their subcompact cars, especially ones powered solely through internal combustion. In moves paralleling those made by American automakers and their smallest models, VW has ceased development of a successor to the eensy Up!, Renault isn’t planning to replace the Twingo in its current form, and Opel won’t create a new version of the funky Adam. What future such cars may have—on both sides of the pond—may involve China and the volumes partnerships there can provide, as in the case of Mini/Great Wall and Smart/Geely.

Which is to say the European makers will not abandon the segment, but entries are almost certainly to be more environmentally focused—think EVs and plug-ins—and thus more expensive. Take for instance VW’s recently approved Urbanout model, an MEB-based fully electric subcompact crossover. Listed internally as MEB-AO, the Urbanout is about 61 inches tall (about four shorter than a Ford EcoSport) and has the footprint of a Polo, but boasts the interior roominess of an MPV from one class up. Of course, it’s expected to start at 25,000 euros, reflective of the 5,000-euro premium required to fit it with batteries. This remains the fly in the business-case ointment for every affordable BEV, and until the first affordable solid-state energy cells arrive, the road forward for such EVs is likely to remain bumpy.

“Small” May Eventually Be Synonymous with “EV”

We’re on a path toward an inflection point between small cars and full electrification. While data shows demand for small and very small cars will increase slightly globally over the next five years—with FCA, PSA, and Hyundai-Kia emerging as the leaders—the game will change between 2024 and 2030. While some brands will pull out of the small-car arena altogether, an armada of startups from all over the globe will fight for what will increasingly be an EV-focused segment. There may even be a high-volume effort led by VW and Ford, and the Chinese will want to play, too, just as that country prepares to phase out its compulsory joint-venture arrangement in 2022.

The danger, however, is that EV adoption rates aren’t expected to rapidly expand in a parallel fashion. A survey from JP Morgan Chase suggests that the global EV penetration will increase rather slowly from three percent in 2020 to 18 percent by 2030. While the same study foresees only marginal growth for plug-in hybrids, conventional and mild hybrids are predicted to rocket from seven to 39 percent. At 41 percent, vehicles powered solely by internal combustion will still top the table, if only by a small margin.

Now that VW has officially announced its intention to make its MEB components set available to third parties, it’s only a matter of time before a single-DNA multi-brand strategy happens. VW’s first partner in Europe will likely be Ford, while the group’s Chinese allies are FAW, SAIC and JAC. By 2025, the Volkswagen Group intends to build 15 million MEB-based vehicles. Out of its total investment of €80 billion ($90.4 billion), €50 billion ($56.5 billion) will be devoted to batteries, which explains the Germans taking interest and positions in mining, new raw materials, and shared sourcing and assembly.

By comparison, Fiat—0currently the clear leader of the subcompact market—intends to spend less than €5 billion ($5.6 billion) on no more than four new EVs by 2022. Although Chinese customers can already purchase entry-level EVs for as little as the equivalent of $5,700, these products are not yet fit for exportation. This may change after 2025 when several local brands such as BAIC and Changan will stop selling combustion-engine vehicles altogether. At this point in time, only a handful of manufacturers like Nio or Exceed by Chery plan to ship EVs to Europe, and all of them aim exclusively at the more profitable B and C segments.

Mini’s Chinese EV Future

While the Nissan/Renault/Mitsubishi alliance, PSA, and GM are doing their own things in the bargain basement, BMW and Daimler are strengthening their China connections. Together with Great Wall, BMW is investing $770 million to build Mini EVs in a highly efficient greenfield site. Designed and engineered in Germany, the new Mini-E will be sold across the world starting in 2023. The first version out will be a shortened three-door city car still known as MiniMini and possessed of proportions not unlike those of the Rocketman concept of several years ago. We hear that the Great Wall joint venture will eventually produce three body styles: the MiniMini, a regular three-door, and a chunky, radically compact neo-SUV along the lines of the VW Cross Up! show car. In this context, BMW must also decide on the future of the two Mini plants in Oxford, England (ex-Rover), and Born, Netherlands (ex-Mitsubishi/Volvo). Since China wants to be a 100-percent EV market by 2030, tie-ups such as this one may be the safest and most cost-effective bet to fill the slots at the bottom end of the market.

What’s going to happen to the rest of the Mini range? An inside line suggests that the clock is ticking for the five-door hatch and the cabriolet which won’t go electric and are too small to dock onto BMW’s FAAR architecture. Another endangered species is the Clubman, sources claim. Having said that, we would not be surprised if Mini were to select FAAR as the way to go for the next Countryman and its two sister models. Offered in fwd and awd guise, powered by a 2.0litre four instead of the breathless 1.5litre three and available in different stages of electrification, we expect to see a dramatically dynamic and quite stylish coupé-like Sportsman (unlike the slow-selling three-door Paceman, this one has five doors) as well as a rough & tough SUV-like version described as one-third Land Rover and two-thirds Range Rover which may be badged Bushman. In total, this strategy would spawn four crossovers, thereby reflecting the continueing change in buyer preference.

Those other Models

As for the Up!, 2020 will see its final update with the addition of three EV versions with battery packs that store 24, 36, or 49 kWh of energy and are powered by electric motors with respective outputs of 94 hp and 170 lb-ft, 121 hp and 243 lb-ft, and 148 hp and 317 lb-ft. Range is expected to fall at 190, 250, and 310 miles on the more optimistic European cycle, while prices will fall between 20,000 and 27,500 euros. The Up! is the last Volkswagen model still based on the ancient PQ architecture conceived way back when under Ferdinand Piëch.

According to sources from within Daimler and Renault, their Smart-related tie-up will expire when the Forfour/Twingo runs its course. For the Germans, the tentative plan for 2025 and beyond is to align Smart with Geely. Less likely is a partnership with BYD, the Chinese home of the only mildly successful Denza EV co-engineered with Mercedes. In contrast, Geely is investing $5 billion in its EV activities, which already include a cheap model marketed under the Kandi name. Other potential candidates are the brand’s long-term partners BAIC and BJEV who may start building electric smart Fortwos in the not too distant future. Smart 3.0 will however feature a completely new bespoke EV architecture. The first fruit from this affordable, scalable, and globally compatible matrix is claimed to be a small crossover dubbed Formore due in 2025 at the latest. Meanwhile, the Fortwo and Forfour replacements have been penciled in for 2026 and 2027.

IFTTT

[jesusvasser]

The Future for Small Cars in Europe and Beyond: Lots of EVs

A lack of profits is seeing European automakers jettison or heavily revise their plans for future generations of their subcompact cars, especially ones powered solely through internal combustion. In moves paralleling those made by American automakers and their smallest models, VW has ceased development of a successor to the eensy Up!, Renault isn’t planning to replace the Twingo in its current form, and Opel won’t create a new version of the funky Adam. What future such cars may have—on both sides of the pond—may involve China and the volumes partnerships there can provide, as in the case of Mini/Great Wall and Smart/Geely.

Which is to say the European makers will not abandon the segment, but entries are almost certainly to be more environmentally focused—think EVs and plug-ins—and thus more expensive. Take for instance VW’s recently approved Urbanout model, an MEB-based fully electric subcompact crossover. Listed internally as MEB-AO, the Urbanout is about 61 inches tall (about four shorter than a Ford EcoSport) and has the footprint of a Polo, but boasts the interior roominess of an MPV from one class up. Of course, it’s expected to start at 25,000 euros, reflective of the 5,000-euro premium required to fit it with batteries. This remains the fly in the business-case ointment for every affordable BEV, and until the first affordable solid-state energy cells arrive, the road forward for such EVs is likely to remain bumpy.

“Small” May Eventually Be Synonymous with “EV”

We’re on a path toward an inflection point between small cars and full electrification. While data shows demand for small and very small cars will increase slightly globally over the next five years—with FCA, PSA, and Hyundai-Kia emerging as the leaders—the game will change between 2024 and 2030. While some brands will pull out of the small-car arena altogether, an armada of startups from all over the globe will fight for what will increasingly be an EV-focused segment. There may even be a high-volume effort led by VW and Ford, and the Chinese will want to play, too, just as that country prepares to phase out its compulsory joint-venture arrangement in 2022.

The danger, however, is that EV adoption rates aren’t expected to rapidly expand in a parallel fashion. A survey from JP Morgan Chase suggests that the global EV penetration will increase rather slowly from three percent in 2020 to 18 percent by 2030. While the same study foresees only marginal growth for plug-in hybrids, conventional and mild hybrids are predicted to rocket from seven to 39 percent. At 41 percent, vehicles powered solely by internal combustion will still top the table, if only by a small margin.

Now that VW has officially announced its intention to make its MEB components set available to third parties, it’s only a matter of time before a single-DNA multi-brand strategy happens. VW’s first partner in Europe will likely be Ford, while the group’s Chinese allies are FAW, SAIC and JAC. By 2025, the Volkswagen Group intends to build 15 million MEB-based vehicles. Out of its total investment of €80 billion ($90.4 billion), €50 billion ($56.5 billion) will be devoted to batteries, which explains the Germans taking interest and positions in mining, new raw materials, and shared sourcing and assembly.

By comparison, Fiat—0currently the clear leader of the subcompact market—intends to spend less than €5 billion ($5.6 billion) on no more than four new EVs by 2022. Although Chinese customers can already purchase entry-level EVs for as little as the equivalent of $5,700, these products are not yet fit for exportation. This may change after 2025 when several local brands such as BAIC and Changan will stop selling combustion-engine vehicles altogether. At this point in time, only a handful of manufacturers like Nio or Exceed by Chery plan to ship EVs to Europe, and all of them aim exclusively at the more profitable B and C segments.

Mini’s Chinese EV Future

While the Nissan/Renault/Mitsubishi alliance, PSA, and GM are doing their own things in the bargain basement, BMW and Daimler are strengthening their China connections. Together with Great Wall, BMW is investing $770 million to build Mini EVs in a highly efficient greenfield site. Designed and engineered in Germany, the new Mini-E will be sold across the world starting in 2023. The first version out will be a shortened three-door city car still known as MiniMini and possessed of proportions not unlike those of the Rocketman concept of several years ago. We hear that the Great Wall joint venture will eventually produce three body styles: the MiniMini, a regular three-door, and a chunky, radically compact neo-SUV along the lines of the VW Cross Up! show car. In this context, BMW must also decide on the future of the two Mini plants in Oxford, England (ex-Rover), and Born, Netherlands (ex-Mitsubishi/Volvo). Since China wants to be a 100-percent EV market by 2030, tie-ups such as this one may be the safest and most cost-effective bet to fill the slots at the bottom end of the market.

What’s going to happen to the rest of the Mini range? An inside line suggests that the clock is ticking for the five-door hatch and the cabriolet which won’t go electric and are too small to dock onto BMW’s FAAR architecture. Another endangered species is the Clubman, sources claim. Having said that, we would not be surprised if Mini were to select FAAR as the way to go for the next Countryman and its two sister models. Offered in fwd and awd guise, powered by a 2.0litre four instead of the breathless 1.5litre three and available in different stages of electrification, we expect to see a dramatically dynamic and quite stylish coupé-like Sportsman (unlike the slow-selling three-door Paceman, this one has five doors) as well as a rough & tough SUV-like version described as one-third Land Rover and two-thirds Range Rover which may be badged Bushman. In total, this strategy would spawn four crossovers, thereby reflecting the continueing change in buyer preference.

Those other Models

As for the Up!, 2020 will see its final update with the addition of three EV versions with battery packs that store 24, 36, or 49 kWh of energy and are powered by electric motors with respective outputs of 94 hp and 170 lb-ft, 121 hp and 243 lb-ft, and 148 hp and 317 lb-ft. Range is expected to fall at 190, 250, and 310 miles on the more optimistic European cycle, while prices will fall between 20,000 and 27,500 euros. The Up! is the last Volkswagen model still based on the ancient PQ architecture conceived way back when under Ferdinand Piëch.

According to sources from within Daimler and Renault, their Smart-related tie-up will expire when the Forfour/Twingo runs its course. For the Germans, the tentative plan for 2025 and beyond is to align Smart with Geely. Less likely is a partnership with BYD, the Chinese home of the only mildly successful Denza EV co-engineered with Mercedes. In contrast, Geely is investing $5 billion in its EV activities, which already include a cheap model marketed under the Kandi name. Other potential candidates are the brand’s long-term partners BAIC and BJEV who may start building electric smart Fortwos in the not too distant future. Smart 3.0 will however feature a completely new bespoke EV architecture. The first fruit from this affordable, scalable, and globally compatible matrix is claimed to be a small crossover dubbed Formore due in 2025 at the latest. Meanwhile, the Fortwo and Forfour replacements have been penciled in for 2026 and 2027.

IFTTT

[eddiejpoplar]

The Future for Small Cars in Europe and Beyond: Lots of EVs

A lack of profits is seeing European automakers jettison or heavily revise their plans for future generations of their subcompact cars, especially ones powered solely through internal combustion. In moves paralleling those made by American automakers and their smallest models, VW has ceased development of a successor to the eensy Up!, Renault isn’t planning to replace the Twingo in its current form, and Opel won’t create a new version of the funky Adam. What future such cars may have—on both sides of the pond—may involve China and the volumes partnerships there can provide, as in the case of Mini/Great Wall and Smart/Geely.

Which is to say the European makers will not abandon the segment, but entries are almost certainly to be more environmentally focused—think EVs and plug-ins—and thus more expensive. Take for instance VW’s recently approved Urbanout model, an MEB-based fully electric subcompact crossover. Listed internally as MEB-AO, the Urbanout is about 61 inches tall (about four shorter than a Ford EcoSport) and has the footprint of a Polo, but boasts the interior roominess of an MPV from one class up. Of course, it’s expected to start at 25,000 euros, reflective of the 5,000-euro premium required to fit it with batteries. This remains the fly in the business-case ointment for every affordable BEV, and until the first affordable solid-state energy cells arrive, the road forward for such EVs is likely to remain bumpy.

“Small” May Eventually Be Synonymous with “EV”

We’re on a path toward an inflection point between small cars and full electrification. While data shows demand for small and very small cars will increase slightly globally over the next five years—with FCA, PSA, and Hyundai-Kia emerging as the leaders—the game will change between 2024 and 2030. While some brands will pull out of the small-car arena altogether, an armada of startups from all over the globe will fight for what will increasingly be an EV-focused segment. There may even be a high-volume effort led by VW and Ford, and the Chinese will want to play, too, just as that country prepares to phase out its compulsory joint-venture arrangement in 2022.

The danger, however, is that EV adoption rates aren’t expected to rapidly expand in a parallel fashion. A survey from JP Morgan Chase suggests that the global EV penetration will increase rather slowly from three percent in 2020 to 18 percent by 2030. While the same study foresees only marginal growth for plug-in hybrids, conventional and mild hybrids are predicted to rocket from seven to 39 percent. At 41 percent, vehicles powered solely by internal combustion will still top the table, if only by a small margin.

Now that VW has officially announced its intention to make its MEB components set available to third parties, it’s only a matter of time before a single-DNA multi-brand strategy happens. VW’s first partner in Europe will likely be Ford, while the group’s Chinese allies are FAW, SAIC and JAC. By 2025, the Volkswagen Group intends to build 15 million MEB-based vehicles. Out of its total investment of €80 billion ($90.4 billion), €50 billion ($56.5 billion) will be devoted to batteries, which explains the Germans taking interest and positions in mining, new raw materials, and shared sourcing and assembly.

By comparison, Fiat—0currently the clear leader of the subcompact market—intends to spend less than €5 billion ($5.6 billion) on no more than four new EVs by 2022. Although Chinese customers can already purchase entry-level EVs for as little as the equivalent of $5,700, these products are not yet fit for exportation. This may change after 2025 when several local brands such as BAIC and Changan will stop selling combustion-engine vehicles altogether. At this point in time, only a handful of manufacturers like Nio or Exceed by Chery plan to ship EVs to Europe, and all of them aim exclusively at the more profitable B and C segments.

Mini’s Chinese EV Future

While the Nissan/Renault/Mitsubishi alliance, PSA, and GM are doing their own things in the bargain basement, BMW and Daimler are strengthening their China connections. Together with Great Wall, BMW is investing $770 million to build Mini EVs in a highly efficient greenfield site. Designed and engineered in Germany, the new Mini-E will be sold across the world starting in 2023. The first version out will be a shortened three-door city car still known as MiniMini and possessed of proportions not unlike those of the Rocketman concept of several years ago. We hear that the Great Wall joint venture will eventually produce three body styles: the MiniMini, a regular three-door, and a chunky, radically compact neo-SUV along the lines of the VW Cross Up! show car. In this context, BMW must also decide on the future of the two Mini plants in Oxford, England (ex-Rover), and Born, Netherlands (ex-Mitsubishi/Volvo). Since China wants to be a 100-percent EV market by 2030, tie-ups such as this one may be the safest and most cost-effective bet to fill the slots at the bottom end of the market.

What’s going to happen to the rest of the Mini range? An inside line suggests that the clock is ticking for the five-door hatch and the cabriolet which won’t go electric and are too small to dock onto BMW’s FAAR architecture. Another endangered species is the Clubman, sources claim. Having said that, we would not be surprised if Mini were to select FAAR as the way to go for the next Countryman and its two sister models. Offered in fwd and awd guise, powered by a 2.0litre four instead of the breathless 1.5litre three and available in different stages of electrification, we expect to see a dramatically dynamic and quite stylish coupé-like Sportsman (unlike the slow-selling three-door Paceman, this one has five doors) as well as a rough & tough SUV-like version described as one-third Land Rover and two-thirds Range Rover which may be badged Bushman. In total, this strategy would spawn four crossovers, thereby reflecting the continueing change in buyer preference.

Those other Models

As for the Up!, 2020 will see its final update with the addition of three EV versions with battery packs that store 24, 36, or 49 kWh of energy and are powered by electric motors with respective outputs of 94 hp and 170 lb-ft, 121 hp and 243 lb-ft, and 148 hp and 317 lb-ft. Range is expected to fall at 190, 250, and 310 miles on the more optimistic European cycle, while prices will fall between 20,000 and 27,500 euros. The Up! is the last Volkswagen model still based on the ancient PQ architecture conceived way back when under Ferdinand Piëch.

According to sources from within Daimler and Renault, their Smart-related tie-up will expire when the Forfour/Twingo runs its course. For the Germans, the tentative plan for 2025 and beyond is to align Smart with Geely. Less likely is a partnership with BYD, the Chinese home of the only mildly successful Denza EV co-engineered with Mercedes. In contrast, Geely is investing $5 billion in its EV activities, which already include a cheap model marketed under the Kandi name. Other potential candidates are the brand’s long-term partners BAIC and BJEV who may start building electric smart Fortwos in the not too distant future. Smart 3.0 will however feature a completely new bespoke EV architecture. The first fruit from this affordable, scalable, and globally compatible matrix is claimed to be a small crossover dubbed Formore due in 2025 at the latest. Meanwhile, the Fortwo and Forfour replacements have been penciled in for 2026 and 2027.

IFTTT

[mikemortgage]

Michael Kors Holdings Limited to Be Renamed Capri Holdings Limited

LONDON — Michael Kors Holdings Limited (NYSE:KORS), a global fashion luxury group, announced today that a definitive agreement has been signed to acquire all of the outstanding shares of Italian luxury fashion house Gianni Versace S.p.A. for a total enterprise value of Euro 1.83 billion or approximately US$2.12 billion. Versace, long recognized as one of the world’s leading luxury fashion companies, is synonymous with Italian glamour and style.

John D. Idol, Chairman and Chief Executive Officer of Michael Kors Holdings Limited, said, “The acquisition of Versace is an important milestone for our group. Versace was founded in 1978. For over 40 years, Versace has represented the epitome of Italian fashion luxury, a testament to the brand’s timeless heritage. We are excited to have Versace as part of our family of luxury brands, and we are committed to investing in its growth. With the full resources of our group, we believe that Versace will grow to over US$2.0 billion in revenues. 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.”

Mr. Idol continued, “Donatella’s iconic style is at the heart of the design aesthetic of Versace. She will continue to lead the company’s creative vision. I am thrilled to have the opportunity to work with Donatella on Versace’s next chapter of growth.”

“This is a very exciting moment for Versace,” said Donatella Versace. “It has been more than 20 years since I took over the company along with my brother Santo and daughter Allegra. I am proud that Versace remains very strong in both fashion and modern culture. Versace is not only synonymous with its iconic and unmistakable style, but with being inclusive and embracing of diversity, as well as empowering people to express themselves. Santo, Allegra and I recognize that this next step will allow Versace to reach its full potential. We are all very excited to join a group led by John Idol, whom I have always admired as a visionary as well as a strong and passionate leader. We believe that being part of this group is essential to Versace’s long-term success. My passion has never been stronger. This is the perfect time for our company, which puts creativity and innovation at the core of all of its actions, to grow.”

Donatella added, “Santo, Allegra and I will become shareholders in Capri Holdings Limited. This demonstrates our belief in the long-term success of Versace and commitment to this new global fashion luxury group.”

“Versace’s management team will continue to be led by Chief Executive Officer, Jonathan Akeroyd, who has been an instrumental partner to Donatella in driving growth and success for Versace worldwide,” added John D. Idol. “He and Donatella have assembled strong senior management and design teams that will continue to lead Versace into its next chapter. We are extremely fortunate to be able to acquire such an extraordinary brand with an incredibly talented team.”

Jonathan Akeroyd, Chief Executive Officer of Versace, said, “Since I joined Versace over two years ago, our focus has been on leveraging the company’s heritage and strong brand recognition worldwide, which has allowed us to experience significant growth in all regions. Donatella’s unmatched vision has led to the continued and growing success of our brand. I am thrilled to be joining Capri Holdings Limited, which will be instrumental in accelerating our growth globally.”

Strategic Initiatives and Transaction Rationale

As part of our strategic plan for the long-term growth of Versace, we intend to execute on the following key initiatives:

Grow Versace to US$2.0 billion in revenues globally

Build on Versace’s luxury runway momentum

Enhance Versace’s powerful and iconic marketing

Increase global retail footprint from approximately 200 to 300 stores

Accelerate e-commerce and omni-channel development

Expand men’s and women’s accessories and footwear from 35% to 60% of revenues

The acquisition of Versace is expected to deliver a number of benefits for our Company, including:

Opportunity to help grow our group’s revenues to US$8.0 billion in the long-term

Expand our global luxury group to include three iconic founder-led brands defined by fashion luxury products with a reputation for world-class design and innovation

Diversify our geographic portfolio from:

66% Americas to 57% Americas

23% Europe to 24% Europe

11% Asia to 19% Asia

Potential to create long-term operational synergies

Transaction Details

The transaction is not subject to a financing condition. The cash portion of the purchase price is expected to be funded by a combination of cash on hand, drawings under the company’s existing revolving credit facility, and committed underwritten bank term loans from our advisors JPMorgan Chase Bank, N.A. and Barclays. The Versace family will also receive Euro 150 million of the purchase price in shares of Capri Holdings Limited. The transaction is expected to close in the company’s fourth fiscal quarter, subject to specified closing conditions, including the receipt of required regulatory approvals.

Our New Name

Capri Holdings Limited (NYSE:CPRI) is the new name to be adopted by Michael Kors Holdings Limited upon the closing of the acquisition. Our name is inspired by the fabled island which has long been recognized as an iconic, glamorous and luxury destination. The island’s spectacular three rock formation, formed over 200 million years ago, is symbolic of the timeless heritage and strong foundation that is at the core of each of the three founder-led brands in our global fashion luxury group.

Financial Considerations

The company believes that the acquisition of Versace enhances the company’s economic value and will drive improved long-term shareholder value by accelerating long-term revenue and EPS growth potential. On a non-GAAP basis the acquisition is expected to be dilutive to earnings per share in the high-single digits in fiscal 2020, accretive in the low-single digits in fiscal 2021, and accretive in the high-single digits in fiscal 2022.

Conference Call and Additional Information

The company will host a conference call to discuss the transaction at 8:45 a.m. ET today, September 25, 2018. Participants may dial 1-800-289-0438 or 1-323-794-2423, conference ID: 9704344. A live webcast of the conference call will also be available on the investor relations portion of the Michael Kors Holdings Limited website, www.investors.michaelkors.com. A replay of today’s call will be available through October 2, 2018 by dialing 1-844-512-2921 or 1-412-317-6671, conference ID: 9704344. For additional information concerning the transaction, please see the investor presentation available on the Investor Relations page of the Michael Kors Holdings Limited website at www.investors.michaelkors.com. For the avoidance of doubt, the contents of this website are not incorporated into and do not form part of this press release.

About Michael Kors Holdings Limited

Michael Kors Holdings Limited is a global fashion luxury group, consisting of iconic brands that are industry leaders in design, style and craftsmanship. Its brands cover the full spectrum of fashion luxury categories including women’s and men’s accessories, footwear and ready-to-wear as well as wearable technology, watches, jewelry, eyewear and a full line of fragrance products. The company’s goal is to continue to extend the global reach of its brands while ensuring that they maintain their independence and exclusive DNA. Michael Kors Holdings Limited is publicly listed on the New York Stock Exchange under the ticker KORS.

About Versace

Founded in 1978 in Milan, Versace is one of the leading international fashion design houses and a symbol of Italian luxury worldwide. It designs, manufactures, distributes and retails fashion and lifestyle products including haute couture, prèt-à-porter, accessories, jewelry, watches, eyewear, fragrances, and home furnishings all bearing the distinctive Medusa logo. The Versace group distributes its products through a worldwide distribution network which includes over 200 boutiques in some of the world’s most glamourous cities.

Forward-Looking Statements

This press release contains statements which are, or may be deemed to be, “forward-looking statements.” Forward-looking statements are prospective in nature and are not based on historical facts, but rather on current expectations and projections of the management of Michael Kors Holdings Limited (the “Company”) and Gianni Versace S.p.A (“Versace”) about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. The forward-looking statements contained in this press release include statements relating to the expected effects of the acquisition on the Company and Versace, the expected timing and scope of the acquisition and other statements other than historical facts. All statements other than statements of historical facts included in this press release may be forward-looking statements. Without limitation, any statements preceded or followed by or that include the words “targets”, “plans”, “believes”, “expects”, “aims”, “intends”, “will”, “should”, “could”, “would”, “may”, “anticipates”, “estimates”, “synergy”, “cost-saving”, “projects”, “goal”, “strategy”, “budget”, “forecast” or “might” or, words or terms of similar substance or the negative thereof, are forward-looking statements. Forward-looking statements include statements relating to the following: (i) future capital expenditures, expenses, revenues, earnings, economic performance, indebtedness, financial condition, share buybacks, dividend policy, losses and future prospects; (ii) business and management strategies and the expansion and growth of the Company’s and Versace’s operations and benefits from the acquisition; and (iii) the effects of government regulation on the Company’s or Versace’s business. These forward-looking statements are not guarantees of future financial performance. Such forward-looking statements involve known and unknown risks and uncertainties that could significantly affect expected results and are based on certain key assumptions. Many risks, uncertainties and other factors could cause actual results to differ materially from those projected or implied in any forward-looking statements. These risks, uncertainties and other factors include the satisfaction of the conditions to consummating the acquisition, timing of closing of the acquisition, the Company’s ability to integrate the businesses successfully and to achieve anticipated benefits of the acquisition; the risk of disruptions to the Company’s or Versace’s businesses; the negative effects of the announcement of the proposed acquisition or the consummation of the proposed acquisition on the market price of the Company’s ordinary shares and its operating results; significant transaction costs; unknown liabilities; the risk of litigation and/or regulatory actions related to the proposed acquisition; fluctuations in demand for the Company’s and Versace’s products; future levels of indebtedness; future availability of credit; the timing and scope of future share buybacks, which may be suspended at any time due to market conditions and the level of other investing activities and uses of cash, including in connection with the pending acquisition; changes in consumer traffic and retail trends; loss of market share and industry competition; fluctuations in the capital markets; fluctuations in interest and exchange rates; the occurrence of unforeseen disasters or catastrophes; political or economic instability in principal markets; adverse outcomes in litigation; and general, local and global economic, political, business and market conditions, as well as those risks set forth in the reports that the Company files from time to time with the U.S. Securities and Exchange Commission. Other unknown or unpredictable factors could cause actual results to differ materially from those in the forward-looking statements. Such forward-looking statements should therefore be construed in the light of such factors. Unless otherwise required by applicable law, neither the Company nor Versace, nor any of their respective associates or directors, officers or advisors, provides any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements in this press release will actually occur. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements. All subsequent oral or written forward-looking statements attributable to the Company or Versace or any of their respective members, directors, officers or employees or any persons acting on their behalf are expressly qualified in their entirety by the cautionary statement above. The Company and Versace disclaim any obligation to update or revise any forward-looking or other statements contained herein other than in accordance with their legal and regulatory obligations.

Contacts

Michael Kors Holdings Limited Katina Metzidakis, 201-514-8234 <a href="mailto:InvestorRelations Michael Kors Holdings Limited Francesca Leoni Press@MichaelKors.com

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Michael Kors Holdings Limited to Be Renamed Capri Holdings Limited

div class’business-wire-post’pLONDON — Michael Kors Holdings Limited (NYSE:KORS), a global fashion luxury group, announced today that a definitive agreement has been signed to acquire all of the outstanding shares of Italian luxury fashion house Gianni Versace S.p.A. for a total enterprise value of Euro 1.83 billion or approximately US$2.12 billion. Versace, long recognized as one of the world’s leading luxury fashion companies, is synonymous with Italian glamour and style. /pp John D. Idol, Chairman and Chief Executive Officer of Michael Kors Holdings Limited, said, “The acquisition of Versace is an important milestone for our group. Versace was founded in 1978. For over 40 years, Versace has represented the epitome of Italian fashion luxury, a testament to the brand’s timeless heritage. We are excited to have Versace as part of our family of luxury brands, and we are committed to investing in its growth. With the full resources of our group, we believe that Versace will grow to over US$2.0 billion in revenues. 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.” /pp Mr. Idol continued, “Donatella’s iconic style is at the heart of the design aesthetic of Versace. She will continue to lead the company’s creative vision. I am thrilled to have the opportunity to work with Donatella on Versace’s next chapter of growth.” /pp “This is a very exciting moment for Versace,” said Donatella Versace. “It has been more than 20 years since I took over the company along with my brother Santo and daughter Allegra. I am proud that Versace remains very strong in both fashion and modern culture. Versace is not only synonymous with its iconic and unmistakable style, but with being inclusive and embracing of diversity, as well as empowering people to express themselves. Santo, Allegra and I recognize that this next step will allow Versace to reach its full potential. We are all very excited to join a group led by John Idol, whom I have always admired as a visionary as well as a strong and passionate leader. We believe that being part of this group is essential to Versace’s long-term success. My passion has never been stronger. This is the perfect time for our company, which puts creativity and innovation at the core of all of its actions, to grow.” /pp Donatella added, “Santo, Allegra and I will become shareholders in Capri Holdings Limited. This demonstrates our belief in the long-term success of Versace and commitment to this new global fashion luxury group.” /pp “Versace’s management team will continue to be led by Chief Executive Officer, Jonathan Akeroyd, who has been an instrumental partner to Donatella in driving growth and success for Versace worldwide,” added John D. Idol. “He and Donatella have assembled strong senior management and design teams that will continue to lead Versace into its next chapter. We are extremely fortunate to be able to acquire such an extraordinary brand with an incredibly talented team.” /pp Jonathan Akeroyd, Chief Executive Officer of Versace, said, “Since I joined Versace over two years ago, our focus has been on leveraging the company’s heritage and strong brand recognition worldwide, which has allowed us to experience significant growth in all regions. Donatella’s unmatched vision has led to the continued and growing success of our brand. I am thrilled to be joining Capri Holdings Limited, which will be instrumental in accelerating our growth globally.” /pp bStrategic Initiatives and Transaction Rationale/b /pp As part of our strategic plan for the long-term growth of Versace, we intend to execute on the following key initiatives: /pul li class”bwlistitemmargb” Grow Versace to US$2.0 billion in revenues globally /li li class”bwlistitemmargb” Build on Versace’s luxury runway momentum /li li class”bwlistitemmargb” Enhance Versace’s powerful and iconic marketing /li li class”bwlistitemmargb” Increase global retail footprint from approximately 200 to 300 stores /li li class”bwlistitemmargb” Accelerate e-commerce and omni-channel development /li li class”bwlistitemmargb” Expand men’s and women’s accessories and footwear from 35% to 60% of revenues /li /ulp The acquisition of Versace is expected to deliver a number of benefits for our Company, including: /pul li class”bwlistitemmargb” Opportunity to help grow our group’s revenues to US$8.0 billion in the long-term /li li class”bwlistitemmargb” Expand our global luxury group to include three iconic founder-led brands defined by fashion luxury products with a reputation for world-class design and innovation /li li class”bwlistitemmargb” Diversify our geographic portfolio from: ul li class”bwlistitemmargb” 66% Americas to 57% Americas /li li class”bwlistitemmargb” 23% Europe to 24% Europe /li li class”bwlistitemmargb” 11% Asia to 19% Asia /li /ul /li li class”bwlistitemmargb” Potential to create long-term operational synergies /li /ulp bTransaction Details/b /pp The transaction is not subject to a financing condition. The cash portion of the purchase price is expected to be funded by a combination of cash on hand, drawings under the company’s existing revolving credit facility, and committed underwritten bank term loans from our advisors JPMorgan Chase Bank, N.A. and Barclays. The Versace family will also receive Euro 150 million of the purchase price in shares of Capri Holdings Limited. The transaction is expected to close in the company’s fourth fiscal quarter, subject to specified closing conditions, including the receipt of required regulatory approvals. /pp bOur New Name/b /pp Capri Holdings Limited (NYSE:CPRI) is the new name to be adopted by Michael Kors Holdings Limited upon the closing of the acquisition. Our name is inspired by the fabled island which has long been recognized as an iconic, glamorous and luxury destination. The island’s spectacular three rock formation, formed over 200 million years ago, is symbolic of the timeless heritage and strong foundation that is at the core of each of the three founder-led brands in our global fashion luxury group. /pp bFinancial Considerations/b /pp The company believes that the acquisition of Versace enhances the company’s economic value and will drive improved long-term shareholder value by accelerating long-term revenue and EPS growth potential. On a non-GAAP basis the acquisition is expected to be dilutive to earnings per share in the high-single digits in fiscal 2020, accretive in the low-single digits in fiscal 2021, and accretive in the high-single digits in fiscal 2022. /pp bConference Call and Additional Information/b /pp The company will host a conference call to discuss the transaction at 8:45 a.m. ET today, September 25, 2018. Participants may dial 1-800-289-0438 or 1-323-794-2423, conference ID: 9704344. A live webcast of the conference call will also be available on the investor relations portion of the Michael Kors Holdings Limited website, a rel”nofollow” href”http://cts.businesswire.com/ct/CT?idsmartlink&urlhttp%3A%2F%2Fwww.investors.michaelkors.com&esheet51871981&newsitemid20180925005557&lanen-US&anchorwww.investors.michaelkors.com&index1&md590b25130b586a06d777aa1dc17ea6bf5″www.investors.michaelkors.com/a. A replay of today’s call will be available through October 2, 2018 by dialing 1-844-512-2921 or 1-412-317-6671, conference ID: 9704344. For additional information concerning the transaction, please see the investor presentation available on the Investor Relations page of the Michael Kors Holdings Limited website at a rel”nofollow” href”http://cts.businesswire.com/ct/CT?idsmartlink&urlhttp%3A%2F%2Fwww.investors.michaelkors.com&esheet51871981&newsitemid20180925005557&lanen-US&anchorwww.investors.michaelkors.com&index2&md5b18411424bcfd47ada234e1c3a707495″www.investors.michaelkors.com/a.b /bFor the avoidance of doubt, the contents of this website are not incorporated into and do not form part of this press release. /pp bAbout Michael Kors Holdings Limited/b /pp Michael Kors Holdings Limited is a global fashion luxury group, consisting of iconic brands that are industry leaders in design, style and craftsmanship. Its brands cover the full spectrum of fashion luxury categories including women’s and men’s accessories, footwear and ready-to-wear as well as wearable technology, watches, jewelry, eyewear and a full line of fragrance products. The company’s goal is to continue to extend the global reach of its brands while ensuring that they maintain their independence and exclusive DNA. Michael Kors Holdings Limited is publicly listed on the New York Stock Exchange under the ticker KORS. /pp bAbout Versace/b /pp Founded in 1978 in Milan, Versace is one of the leading international fashion design houses and a symbol of Italian luxury worldwide. It designs, manufactures, distributes and retails fashion and lifestyle products including haute couture, prèt-à-porter, accessories, jewelry, watches, eyewear, fragrances, and home furnishings all bearing the distinctive Medusa logo. The Versace group distributes its products through a worldwide distribution network which includes over 200 boutiques in some of the world’s most glamourous cities. /pp bForward-Looking Statements/b /pp This press release contains statements which are, or may be deemed to be, “forward-looking statements.” Forward-looking statements are prospective in nature and are not based on historical facts, but rather on current expectations and projections of the management of Michael Kors Holdings Limited (the “Company”) and Gianni Versace S.p.A (“Versace”) about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. The forward-looking statements contained in this press release include statements relating to the expected effects of the acquisition on the Company and Versace, the expected timing and scope of the acquisition and other statements other than historical facts. All statements other than statements of historical facts included in this press release may be forward-looking statements. Without limitation, any statements preceded or followed by or that include the words “targets”, “plans”, “believes”, “expects”, “aims”, “intends”, “will”, “should”, “could”, “would”, “may”, “anticipates”, “estimates”, “synergy”, “cost-saving”, “projects”, “goal”, “strategy”, “budget”, “forecast” or “might” or, words or terms of similar substance or the negative thereof, are forward-looking statements. Forward-looking statements include statements relating to the following: (i) future capital expenditures, expenses, revenues, earnings, economic performance, indebtedness, financial condition, share buybacks, dividend policy, losses and future prospects; (ii) business and management strategies and the expansion and growth of the Company’s and Versace’s operations and benefits from the acquisition; and (iii) the effects of government regulation on the Company’s or Versace’s business. These forward-looking statements are not guarantees of future financial performance. Such forward-looking statements involve known and unknown risks and uncertainties that could significantly affect expected results and are based on certain key assumptions. Many risks, uncertainties and other factors could cause actual results to differ materially from those projected or implied in any forward-looking statements. These risks, uncertainties and other factors include the satisfaction of the conditions to consummating the acquisition, timing of closing of the acquisition, the Company’s ability to integrate the businesses successfully and to achieve anticipated benefits of the acquisition; the risk of disruptions to the Company’s or Versace’s businesses; the negative effects of the announcement of the proposed acquisition or the consummation of the proposed acquisition on the market price of the Company’s ordinary shares and its operating results; significant transaction costs; unknown liabilities; the risk of litigation and/or regulatory actions related to the proposed acquisition; fluctuations in demand for the Company’s and Versace’s products; future levels of indebtedness; future availability of credit; the timing and scope of future share buybacks, which may be suspended at any time due to market conditions and the level of other investing activities and uses of cash, including in connection with the pending acquisition; changes in consumer traffic and retail trends; loss of market share and industry competition; fluctuations in the capital markets; fluctuations in interest and exchange rates; the occurrence of unforeseen disasters or catastrophes; political or economic instability in principal markets; adverse outcomes in litigation; and general, local and global economic, political, business and market conditions, as well as those risks set forth in the reports that the Company files from time to time with the U.S. Securities and Exchange Commission. Other unknown or unpredictable factors could cause actual results to differ materially from those in the forward-looking statements. Such forward-looking statements should therefore be construed in the light of such factors. Unless otherwise required by applicable law, neither the Company nor Versace, nor any of their respective associates or directors, officers or advisors, provides any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements in this press release will actually occur. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements. All subsequent oral or written forward-looking statements attributable to the Company or Versace or any of their respective members, directors, officers or employees or any persons acting on their behalf are expressly qualified in their entirety by the cautionary statement above. The Company and Versace disclaim any obligation to update or revise any forward-looking or other statementsi /icontained herein other than in accordance with their legal and regulatory obligations. /pp /pp img alt”” src”http://cts.businesswire.com/ct/CT?idbwnews&sty20180925005557r1&sidcnpm1&distronx&langen&#8221; style”width:0;height:0″/ span class”bwct31415″/ /ppbContacts/b/pp Michael Kors Holdings Limitedbr/Katina Metzidakis, 201-514-8234br/ a href”mailto:InvestorRelationsMichaelKors.com”InvestorRelationsMichaelKors.com/a br/orbr/Media:br/Michael Kors Holdings Limitedbr/Francesca Leonibr/ a href”mailto:PressMichaelKors.com”PressMichaelKors.com/a /p p /p/div

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Michael Kors Holdings Limited to Be Renamed Capri Holdings Limited

LONDON — Michael Kors Holdings Limited (NYSE:KORS), a global fashion luxury group, announced today that a definitive agreement has been signed to acquire all of the outstanding shares of Italian luxury fashion house Gianni Versace S.p.A. for a total enterprise value of Euro 1.83 billion or approximately US$2.12 billion. Versace, long recognized as one of the world’s leading luxury fashion companies, is synonymous with Italian glamour and style.

John D. Idol, Chairman and Chief Executive Officer of Michael Kors Holdings Limited, said, “The acquisition of Versace is an important milestone for our group. Versace was founded in 1978. For over 40 years, Versace has represented the epitome of Italian fashion luxury, a testament to the brand’s timeless heritage. We are excited to have Versace as part of our family of luxury brands, and we are committed to investing in its growth. With the full resources of our group, we believe that Versace will grow to over US$2.0 billion in revenues. 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.”

Mr. Idol continued, “Donatella’s iconic style is at the heart of the design aesthetic of Versace. She will continue to lead the company’s creative vision. I am thrilled to have the opportunity to work with Donatella on Versace’s next chapter of growth.”

“This is a very exciting moment for Versace,” said Donatella Versace. “It has been more than 20 years since I took over the company along with my brother Santo and daughter Allegra. I am proud that Versace remains very strong in both fashion and modern culture. Versace is not only synonymous with its iconic and unmistakable style, but with being inclusive and embracing of diversity, as well as empowering people to express themselves. Santo, Allegra and I recognize that this next step will allow Versace to reach its full potential. We are all very excited to join a group led by John Idol, whom I have always admired as a visionary as well as a strong and passionate leader. We believe that being part of this group is essential to Versace’s long-term success. My passion has never been stronger. This is the perfect time for our company, which puts creativity and innovation at the core of all of its actions, to grow.”

Donatella added, “Santo, Allegra and I will become shareholders in Capri Holdings Limited. This demonstrates our belief in the long-term success of Versace and commitment to this new global fashion luxury group.”

“Versace’s management team will continue to be led by Chief Executive Officer, Jonathan Akeroyd, who has been an instrumental partner to Donatella in driving growth and success for Versace worldwide,” added John D. Idol. “He and Donatella have assembled strong senior management and design teams that will continue to lead Versace into its next chapter. We are extremely fortunate to be able to acquire such an extraordinary brand with an incredibly talented team.”

Jonathan Akeroyd, Chief Executive Officer of Versace, said, “Since I joined Versace over two years ago, our focus has been on leveraging the company’s heritage and strong brand recognition worldwide, which has allowed us to experience significant growth in all regions. Donatella’s unmatched vision has led to the continued and growing success of our brand. I am thrilled to be joining Capri Holdings Limited, which will be instrumental in accelerating our growth globally.”

Strategic Initiatives and Transaction Rationale

As part of our strategic plan for the long-term growth of Versace, we intend to execute on the following key initiatives:

Grow Versace to US$2.0 billion in revenues globally

Build on Versace’s luxury runway momentum

Enhance Versace’s powerful and iconic marketing

Increase global retail footprint from approximately 200 to 300 stores

Accelerate e-commerce and omni-channel development

Expand men’s and women’s accessories and footwear from 35% to 60% of revenues

The acquisition of Versace is expected to deliver a number of benefits for our Company, including:

Opportunity to help grow our group’s revenues to US$8.0 billion in the long-term

Expand our global luxury group to include three iconic founder-led brands defined by fashion luxury products with a reputation for world-class design and innovation

Diversify our geographic portfolio from:

66% Americas to 57% Americas

23% Europe to 24% Europe

11% Asia to 19% Asia

Potential to create long-term operational synergies

Transaction Details

The transaction is not subject to a financing condition. The cash portion of the purchase price is expected to be funded by a combination of cash on hand, drawings under the company’s existing revolving credit facility, and committed underwritten bank term loans from our advisors JPMorgan Chase Bank, N.A. and Barclays. The Versace family will also receive Euro 150 million of the purchase price in shares of Capri Holdings Limited. The transaction is expected to close in the company’s fourth fiscal quarter, subject to specified closing conditions, including the receipt of required regulatory approvals.

Our New Name

Capri Holdings Limited (NYSE:CPRI) is the new name to be adopted by Michael Kors Holdings Limited upon the closing of the acquisition. Our name is inspired by the fabled island which has long been recognized as an iconic, glamorous and luxury destination. The island’s spectacular three rock formation, formed over 200 million years ago, is symbolic of the timeless heritage and strong foundation that is at the core of each of the three founder-led brands in our global fashion luxury group.

Financial Considerations

The company believes that the acquisition of Versace enhances the company’s economic value and will drive improved long-term shareholder value by accelerating long-term revenue and EPS growth potential. On a non-GAAP basis the acquisition is expected to be dilutive to earnings per share in the high-single digits in fiscal 2020, accretive in the low-single digits in fiscal 2021, and accretive in the high-single digits in fiscal 2022.

Conference Call and Additional Information

The company will host a conference call to discuss the transaction at 8:45 a.m. ET today, September 25, 2018. Participants may dial 1-800-289-0438 or 1-323-794-2423, conference ID: 9704344. A live webcast of the conference call will also be available on the investor relations portion of the Michael Kors Holdings Limited website, www.investors.michaelkors.com. A replay of today’s call will be available through October 2, 2018 by dialing 1-844-512-2921 or 1-412-317-6671, conference ID: 9704344. For additional information concerning the transaction, please see the investor presentation available on the Investor Relations page of the Michael Kors Holdings Limited website at www.investors.michaelkors.com. For the avoidance of doubt, the contents of this website are not incorporated into and do not form part of this press release.

About Michael Kors Holdings Limited

Michael Kors Holdings Limited is a global fashion luxury group, consisting of iconic brands that are industry leaders in design, style and craftsmanship. Its brands cover the full spectrum of fashion luxury categories including women’s and men’s accessories, footwear and ready-to-wear as well as wearable technology, watches, jewelry, eyewear and a full line of fragrance products. The company’s goal is to continue to extend the global reach of its brands while ensuring that they maintain their independence and exclusive DNA. Michael Kors Holdings Limited is publicly listed on the New York Stock Exchange under the ticker KORS.

About Versace

Founded in 1978 in Milan, Versace is one of the leading international fashion design houses and a symbol of Italian luxury worldwide. It designs, manufactures, distributes and retails fashion and lifestyle products including haute couture, prèt-à-porter, accessories, jewelry, watches, eyewear, fragrances, and home furnishings all bearing the distinctive Medusa logo. The Versace group distributes its products through a worldwide distribution network which includes over 200 boutiques in some of the world’s most glamourous cities.

Forward-Looking Statements

This press release contains statements which are, or may be deemed to be, “forward-looking statements.” Forward-looking statements are prospective in nature and are not based on historical facts, but rather on current expectations and projections of the management of Michael Kors Holdings Limited (the “Company”) and Gianni Versace S.p.A (“Versace”) about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. The forward-looking statements contained in this press release include statements relating to the expected effects of the acquisition on the Company and Versace, the expected timing and scope of the acquisition and other statements other than historical facts. All statements other than statements of historical facts included in this press release may be forward-looking statements. Without limitation, any statements preceded or followed by or that include the words “targets”, “plans”, “believes”, “expects”, “aims”, “intends”, “will”, “should”, “could”, “would”, “may”, “anticipates”, “estimates”, “synergy”, “cost-saving”, “projects”, “goal”, “strategy”, “budget”, “forecast” or “might” or, words or terms of similar substance or the negative thereof, are forward-looking statements. Forward-looking statements include statements relating to the following: (i) future capital expenditures, expenses, revenues, earnings, economic performance, indebtedness, financial condition, share buybacks, dividend policy, losses and future prospects; (ii) business and management strategies and the expansion and growth of the Company’s and Versace’s operations and benefits from the acquisition; and (iii) the effects of government regulation on the Company’s or Versace’s business. These forward-looking statements are not guarantees of future financial performance. Such forward-looking statements involve known and unknown risks and uncertainties that could significantly affect expected results and are based on certain key assumptions. Many risks, uncertainties and other factors could cause actual results to differ materially from those projected or implied in any forward-looking statements. These risks, uncertainties and other factors include the satisfaction of the conditions to consummating the acquisition, timing of closing of the acquisition, the Company’s ability to integrate the businesses successfully and to achieve anticipated benefits of the acquisition; the risk of disruptions to the Company’s or Versace’s businesses; the negative effects of the announcement of the proposed acquisition or the consummation of the proposed acquisition on the market price of the Company’s ordinary shares and its operating results; significant transaction costs; unknown liabilities; the risk of litigation and/or regulatory actions related to the proposed acquisition; fluctuations in demand for the Company’s and Versace’s products; future levels of indebtedness; future availability of credit; the timing and scope of future share buybacks, which may be suspended at any time due to market conditions and the level of other investing activities and uses of cash, including in connection with the pending acquisition; changes in consumer traffic and retail trends; loss of market share and industry competition; fluctuations in the capital markets; fluctuations in interest and exchange rates; the occurrence of unforeseen disasters or catastrophes; political or economic instability in principal markets; adverse outcomes in litigation; and general, local and global economic, political, business and market conditions, as well as those risks set forth in the reports that the Company files from time to time with the U.S. Securities and Exchange Commission. Other unknown or unpredictable factors could cause actual results to differ materially from those in the forward-looking statements. Such forward-looking statements should therefore be construed in the light of such factors. Unless otherwise required by applicable law, neither the Company nor Versace, nor any of their respective associates or directors, officers or advisors, provides any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements in this press release will actually occur. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements. All subsequent oral or written forward-looking statements attributable to the Company or Versace or any of their respective members, directors, officers or employees or any persons acting on their behalf are expressly qualified in their entirety by the cautionary statement above. The Company and Versace disclaim any obligation to update or revise any forward-looking or other statements contained herein other than in accordance with their legal and regulatory obligations.

Contacts

Michael Kors Holdings Limited Katina Metzidakis, 201-514-8234 InvestorRelations@MichaelKors.com or Media: Michael Kors Holdings Limited Francesca Leoni Press@MichaelKors.com

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