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Fashion giant Michael Kors announced Tuesday it had agreed to buy Versace, signaling an intention to move deeper into the global big league after snapping up shoemaker Jimmy Choo last year.Troubled watersAs a business enterprise, the company has had its ups and downs.Like its main American rival Coach, which has now been rolled into company Tapestry, Michael Kors is high-end, but not at the level of luxury as Versace.Comeback kidJohn Idol joined Michael Kors in 2003 and has been instrumental in its turn around, becoming chairman in 2011, the year the company went public on the New York Stock Exchange.By late June, the company has 1,000 Michael Kors locations around the world and more than 252 Jimmy Choo outlets.
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