Luxury goods maker Michael Kors Holdings has reached an agreement to acquire Italian fashion house Gianni Versace to give the merged company another head start.

Michael Kors, whose products include clothing, accessories, shoes, jewelry and glasses, said Tuesday he would pay about $ 2.1 billion to Versace.

The company announced that it would later rename itself Capri Holdings, taking its new nickname "the legendary island long recognized as an iconic, glamorous and luxurious destination."

The operation will allow the luxury goods company to open about 100 new stores around the world, up from around 200 today, and to increase its online sales.

"For more than 40 years, Versace has embodies the quintessence of fashionable luxury in Italy, reflecting the brand's timeless heritage," said Michael D. Idol, CEO of Michael Kors, in a statement. "We are excited to have Versace in our family of luxury brands and we are committed to investing in its growth.

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Donatella Versace, whose brother Gianni was murdered in 1997, will remain at the head of the Italian brand.

Michael Kors announced his intention to help Versace achieve annual sales of $ 2 billion and achieve annual sales of $ 8 billion.

"There is a clear desire to develop Versace's business in both stores and online," said Neil Saunders, managing director of GlobalData Retail. "Over the past few years, Michael Kors has done a good job developing new store concepts that have made a difference with buyers, and we believe this expertise can be put to good use in the Versace sector."

This operation comes after the acquisition by Michael Kors in 2017 of the luxury shoe company Jimmy Choo, thus extending a period of consolidation for the luxury goods market.

The luxury retailer and rival Coach, 2017, has bought Kate Spade, manufacturer of handbags and accessories, and then renamed Tapestry.

Follow TODAY USA reporter Nathan Bomey on Twitter @NathanBomey.

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