All The Brands And Companies That Used To Be Known By A Different Name
Sometimes companies change their names to transition into a different business model, like Michael Kors.
Michael Kors has long been known for their affordable handbags that can be found at places like TJ Maxx and Marshalls. But apparently they’re tired of being the purse every teenager buys when they start making a little money. Last year, the company announced plans to acquire high-end fashion house Gianni Versace for $2.1 billion. As they began moving into the luxury brand world, they decided they needed a new name, and Michael Kors became Capri Holdings. The name is meant to evoke feelings of glamour and luxury, like the island that inspired it. Capri Holdings will be keeping the Michael Kors label though, so you can still get your handbags.