Michael Kors is Changing its Name

Fashion giant Michael Kors has been making some major acquisitions lately.  Now it's official, the brand is changing its name!

Don't sweat it if you got a Michael Kors handbag or accessory over the holiday and worry it might be trending out.

In September Michael Kors purchased Versace for $2 billion not too long after they scooped up shoe designer Jimmy Choo.

Now the fashion mega power will be known collectively as Capri. They will trade on the New York Stock Exchange as CPRI.

Capri which is expected to reach annual sales of $8 billion worldwide will be keeping Donatella Versace and Michael Kors on as creative directors for their respective brands.