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Michael Kors to change name after Versace buyout

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Michael Kors Holdings Ltd. announced plans to change its name after it completes the purchase of Gianni Versace SpA.

The company plans to rebrand as Capri Holdings Ltd. and trade under the CPRI stock symbol.

Michael Kors officially announced a deal in the works to purchase Versace for $2.12 billion.

Read more from The Wall Street Journal.

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