With Versace under its wing, how will Capri Holdings — formerly Michael Kors Holdings — make a run at the luxury accessories market? The company is hoping that Versace, plus its 2017 flagship acquisition Jimmy Choo, will add fire to its handbag and shoe business and help turn it into a true luxury group to rival the likes of LVMH Moët Hennessy Louis Vuitton, Kering and its U.S. rival, Tapestry.

If the runway is any indication, Versace’s December pre-fall 2019 show in New York could be a window into the group’s plans. In each look, models sported handbags and high-wattage footwear, with the label showing a complete range of quilted shoulder bags, fanny packs, evening clutches and luggage.

In September, Kors’ chief executive officer John Idol said of his intentions for the category: “Clearly accessories are an area where we will need to have manufacturing capabilities in Italy to grow in size and scale,” not only through acquisitions, but also by building facilities. “That’s something that is part of a long-term vision that will happen over the next 12 to 36 months and you will see that implemented throughout the company.”

The goal, Idol said at the time of the Versace acquisition in September, is to increase women’s accessories and footwear sales to 60 percent of the label’s revenues from the current 35 percent.

Kors-Capri aims to more than double Versace’s sales to the $2 billion annual mark as it aims to boost group revenues to $8 billion. Kors is logging some $5 billion in annual sales, and when Versace’s forecast of $850 million (up from $350 million in 2010) are added in, it will draw level with Tapestry’s annual sales of about $5.9 billion. This is still a long way away from Kering’s 16.8 billion euros and LVMH’s 44.7 billion euros.

Wells Fargo analyst Ike Boruchow noted of the company: “With the acquisition of Jimmy Choo and now Versace in a 12-month span, Kors is quickly evolving into a ‘luxury house’ of brands, and if they can hit their targets, the company should be able to drive 25 cents [per share] of accretion in Choo (from break-even today) and 50 cents in Versace (from a loss of 35 [cents to] 40 cents today) by fiscal-year 2021 — creating 75 cents of M&A driven upside three years from now to come on top of any organic growth the model may generate.”