The transaction is expected to close in the Company’s fourth fiscal quarter, subject to specified closing conditions.

The factory, owned and operated by the Gozzi family since its founding in 1974, has produced high-end shoes for many of the world’s top 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.

“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.”, commented John D. Idol.

Capri Holdings Limited is a global fashion luxury group, owning brands Versace, Jimmy Choo and Michael Kors. Such 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, jewellery, eyewear and a full line of fragrance products.