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Michael Kors Acquires Luxury Fashion Brand, Versace, for $2.12b

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By Dipo Olowookere

Global fashion luxury group, Michael Kors Holdings Limited, has signed a definitive agreement to acquire all of the outstanding shares of Italian luxury fashion house, Gianni Versace, for a total enterprise value of €1.83 billion or $2.12 billion.

Versace, long recognized as one of the world’s leading luxury fashion companies, is synonymous with Italian glamour and style.

A statement by Michael Kors disclosed that with the acquisition, it intends to grow Versace to $2.0 billion in revenues globally and build on the brand’s luxury runway momentum.

In addition, the firm plans to enhance Versace’s powerful and iconic marketing, increase global retail footprint from approximately 200 to 300 stores, accelerate e-commerce and omni-channel development, and expand men’s and women’s accessories and footwear from 35 percent to 60 percent of revenues.

It was disclosed that the acquisition of Versace is expected to deliver a number of benefits for Michael Kors by helping it grow the group’s revenues to $8 billion in the long-term, expand the global luxury group to include three iconic founder-led brands defined by fashion luxury products with a reputation for world-class design and innovation.

Also, the deal is expected to diversify Michael Kors’ geographic portfolio from 66 percent Americas to 57 percent Americas, 23 percent Europe to 24 percent Europe, 11 percent Asia to 19 percent Asia, and create a potential long-term operational synergies.

Commenting on the deal, Chairman and Chief Executive Officer of Michael Kors Holdings Limited, Mr John Idol, said, “The acquisition of Versace is an important milestone for our group. Versace was founded in 1978. For over 40 years, Versace has represented the epitome of Italian fashion luxury, a testament to the brand’s timeless heritage.

“We are excited to have Versace as part of our family of luxury brands, and we are committed to investing in its growth.

“With the full resources of our group, we believe that Versace will grow to over $2 billion in revenues. We believe that the strength of the Michael Kors and Jimmy Choo brands, and the acquisition of Versace, position us to deliver multiple years of revenue and earnings growth.”

“Donatella’s iconic style is at the heart of the design aesthetic of Versace. She will continue to lead the company’s creative vision. I am thrilled to have the opportunity to work with Donatella on Versace’s next chapter of growth,” Mr Idol continued.

“This is a very exciting moment for Versace,” said Donatella Versace. “It has been more than 20 years since I took over the company along with my brother Santo and daughter Allegra. I am proud that Versace remains very strong in both fashion and modern culture. Versace is not only synonymous with its iconic and unmistakable style, but with being inclusive and embracing of diversity, as well as empowering people to express themselves. Santo, Allegra and I recognize that this next step will allow Versace to reach its full potential. We are all very excited to join a group led by John Idol, whom I have always admired as a visionary as well as a strong and passionate leader. We believe that being part of this group is essential to Versace’s long-term success. My passion has never been stronger. This is the perfect time for our company, which puts creativity and innovation at the core of all of its actions, to grow.”

Donatella added, “Santo, Allegra and I will become shareholders in Capri Holdings Limited. This demonstrates our belief in the long-term success of Versace and commitment to this new global fashion luxury group.”

“Versace’s management team will continue to be led by Chief Executive Officer, Jonathan Akeroyd, who has been an instrumental partner to Donatella in driving growth and success for Versace worldwide,” added John D. Idol. “He and Donatella have assembled strong senior management and design teams that will continue to lead Versace into its next chapter. We are extremely fortunate to be able to acquire such an extraordinary brand with an incredibly talented team.”

Jonathan Akeroyd, Chief Executive Officer of Versace, said, “Since I joined Versace over two years ago, our focus has been on leveraging the company’s heritage and strong brand recognition worldwide, which has allowed us to experience significant growth in all regions. Donatella’s unmatched vision has led to the continued and growing success of our brand. I am thrilled to be joining Capri Holdings Limited, which will be instrumental in accelerating our growth globally.”

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Heartbeat: First Looks, Bold Choices and the Start of Something Real!

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Heartbeat Watch This Weekend on DStv

Heartbeat wasted no time turning up the heat in its premiere episode, kicking off with instant attraction, bold choices and dynamics that immediately set the tone for the season.

Ten singles, five men and five women, stepped into the Love Pad, but instead of long introductions, they were thrown into their first test. Each person had to make an initial choice based solely on photos, no conversations, no context, just instinct.  Chidera, a 30-year-old who revealed she had been single for ten years, was the first to choose, picking Alvin, a 25-year-old actor. Alvin, however, followed his own instinct and selected Queen Latifa, a 26-year-old entrepreneur whose calm confidence stood out instantly.

As the house filled up, it became clear that some singles were already emerging as early favourites. Igwe, a 26-year-old oil and gas professional, quickly became one of the most sought-after men, attracting interest from more than one woman. On the other side, Hilda, a 28-year-old actress from Ghana, found herself drawing repeated attention, setting the stage for potential rivalry and connection.

The dynamics shifted again with the introduction of the Love Nest, a private room designed for two singles to spend the night away from the rest of the house. A hidden key added suspense, and when Kenna found it, he made a bold move by choosing Queen Latifa. The decision made them the first pair to share the Love Nest and instantly altered the energy in the house.

Next came the Love Dip game, where housemates picked numbers from a ballot box. Matching numbers meant becoming partners for the night, creating unexpected pairings and opening the door to fresh conversations. New combinations like Igwe and Hilda, Shekina and Alvin, Toria and Henry, and Chidera and Kenna sparked curiosity, chemistry, and a few raised eyebrows.

By the end of the episode, the singles had settled into the Love Pad, but emotionally, nothing was settled. The men openly discussed attraction and possibilities, while the women made it clear they were watching closely and not ready for half-hearted intentions or games.

Episode One didn’t give all the answers, but it asked the right questions. With overlapping interests, early connections, and choices already creating tension, Heartbeat is clearly gearing up for deeper emotions, surprises and evolving relationships.

Catch Heartbeat every Sunday at 9 pm on Africa Magic Showcase, GOtv Channel 8, and Showmax.

To upgrade, subscribe, or reconnect, download the MyGOtv App or dial *288#. For catch-up and on-the-go viewing, download the GOtv Stream App and enjoy your favourite shows anytime, anywhere.

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6 Things We Expect To See On Africa Magic’s ‘Heartbeat’

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Africa Magic's Heartbeat

The first episode of Africa Magic’s newest dating reality show, Heartbeat, premiered on Sunday night, January 11, 2026, and it is clear that Sunday nights are about to get a lot more fun. The singles came in and wasted no time in giving a show.

With Seyitan Atigarin at the helm and ten eclectic singles searching for a “Promise Lock,” the stage is set for a 12-week journey that promises to be more than just your average dating show.

Following an impressive first episode, here are five things we expect to see as the season unfolds.

1) Strong Personalities:

These singles came in with all confidence in who they are and what they represent. They have an idea of what they are looking for and seem like they will be going for it. Will there be a personality clash at some point or even ego bruises over partners? Time will definitely tell, and we’ll all be watching.

2) The Inevitable (and Messy) Love Triangle

If the First Glance reveal told us anything, it’s that tastes in the house are overlapping fast. We’ve already seen Henri and Ken eyeing the same ladies, while more than one woman seems intrigued by Igwe’s “cool and collected” energy. We expect a classic love triangle to form by the end of week two. There is nothing like a little competition to turn a “Love Pad” into a pressure cooker, and we are here for every bit of the “who-chose-who” drama.

3) Romance and Some “Heated” Tension:

If there is one thing that was obvious in the first episode, it is that the singles may have some physical attractions already. All thanks to the love pad, we got a first kiss from Ken and Queen Latifa, and one can only wonder what is to come in the following weeks.

4) High-Stakes “Compatibility” Challenges

Heartbeat isn’t just about sitting around and looking pretty. We expect to see weekly games and challenges specifically designed to test more than just physical attraction. From teamwork exercises that reveal who has a short fuse to “compatibility quizzes” that expose how well the pairs actually know each other, these tasks will likely be the catalyst for the season’s biggest arguments and its most romantic breakthroughs.

5) Intellectual Fireworks (The “Slumflower” Effect)

With Chidera Eggerue (The Slumflower) in the house, we aren’t just getting romance; we’re getting a masterclass in boundaries and emotional intelligence. Chidera has already made it clear she isn’t here for “bare minimum” energy. We expect her presence to challenge the men to step up their game, not just with flashy gifts, but with deep, intentional conversation. Expect some heated debates on feminism, dating standards, and “the patriarchy” over breakfast.

6) The “Promise Lock” Pressure Cooker

The show’s ultimate prize isn’t just a partner; it’s the Promise Lock. As the 12-week deadline approaches, the pressure to “lock it in” is going to turn friends into foes. We expect the final episodes to be a high-stakes showdown where couples have to decide if their “house romance” can survive a Lagos traffic jam or a Ghanaian family meeting. Who will commit, and who will leave their partner hanging at the gate?

Heartbeat Episode 1 successfully set the stage for a season of “romance, tension, and side-eyes.” If what we saw on the first episode is any indication, we’re in for a very messy, very entertaining three months. Catch the next episode on Africa Magic Showcase (DStv Channel 151 | GOtv Channel 8) at 9 pm on Sunday. You can also watch all the drama on the go via the DStv and GOtv Stream apps, available on the iOS and Play stores.

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What I Want to be Remembered for—Ckay

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Ckay CNN International African Voices

By Modupe Gbadeyanka

Love Nwantiti crooner, Chukwuka Chukwuma Ekweani, professionally known as Ckay, recently told CNN International on African Voices, which aired on January 10, 2026, the legacy he intends to leave behind.

Speaking in his home studio with the show anchor, Larry Madowo, the singer said, “I want my legacy to be that I innovated the sound, I advanced the culture, and I made the world a better place than I met it.”

Ckay, who also doubles as a songwriter and producer, further said, “I would say it’s definitely made its mark in the history books of Afrobeats, definitely, and I’m really proud to, you know, be a part of this whole culture.”

While explaining the rationale behind his biggest hit, Love Nwantiti, with over a billion streams on Spotify, said, “I was in between relationships at the time I wrote that song […]. I was making a beat, and I freestyled on the beats. I was just vibing my feelings straight from the heart. Like most times I don’t always take a pen and write songs. Sometimes I like to just pour it straight from the heart.”

With other popular releases such as Emiliana and Felony, Ckay spoke to his growth as an artist, saying, “As a person I’ve grown in love with each time I make a song. If you listen to the lyrics and what I’m saying, you can tell that I’ve grown in love […]. I’m a lot more mature now and my music has grown with it as well.”

Ckay broke out by going viral on TikTok and reflects on the phenomenon of social media trends and he said, “There was a time when in the early stages of this people would laugh that I was making TikToks for songs. People didn’t think it was cool to make TikToks. Fast forward now because people have seen the impact, everybody is making TikToks.”

He is carving his own path in the world of Afrobeats. His music comes under the subgenre of Emo Afrobeats. He tells Madowo how this sound came about, “Being a cancer, cancers are known to be emotional people. We’re known to be very like in touch with our feelings. As a creative, my essence, which is my feelings, just naturally comes through my music even without me really trying. Afrobeats being my cultural heritage, I just felt like for me to come into this space, it was very important that I brought a different perspective to the sound.”

Despite using the term ‘Afrobeats’, Ckay addresses the overgeneralisation of the style of music, saying, “Africa has over 50 countries, more than 50 cultures. Nigeria alone has over 36 ethnic groups with different languages, food, music, rhythm. With the music they also have their own instruments also not all of them play guitar and piano, there’s African instruments too. Coming to a whole continent and just calling everything Afrobeats, it’s not the most apt, but it’s a start, right? I think for the Western world, it’s a start to help them understand African music.”

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