What Happened to Versace Company After He Died?

Gianni Versace, the legendary fashion designer, was brutally murdered in 1997 at the age of 50. The news of his untimely death shook the fashion industry to its core. It was a huge loss to the world of fashion and left everyone wondering what would happen to his company, which he had built from scratch and nurtured with great care.

After Gianni’s death, his sister Donatella Versace took over as the creative director of the company. She had worked closely with Gianni and was well-versed in his design philosophy and aesthetic. Despite initial skepticism from some quarters, Donatella proved herself to be a worthy successor to her brother.

Under her leadership, Versace continued to thrive. The company launched several successful collections that were well-received by both critics and customers alike.

Donatella also expanded into new markets, such as home furnishings and beauty products. She collaborated with other designers and celebrities to create new lines that appealed to a wider audience.

One of the most successful collaborations was with singer Jennifer Lopez in 2000. The green silk chiffon dress that Lopez wore at the Grammy Awards became an instant sensation and is still remembered as one of the most iconic red carpet dresses ever.

In addition to expanding its product lines, Versace also opened new stores in key locations around the world. Today, there are over 200 Versace boutiques worldwide, including flagship stores in Milan, New York City, Paris, London, Tokyo, and Dubai.

Despite its success under Donatella’s leadership, Versace faced some financial difficulties in the early 2000s. The company had taken on debt to finance its expansion plans and was struggling to generate enough revenue to cover its expenses. In 2004, it was sold to a private equity firm for $775 million.

Under new ownership, Versace continued to grow and expand into new markets. It launched a successful line of luxury watches in 2010 and a children’s collection in 2011. The company also continued to collaborate with designers and celebrities, such as Lady Gaga and Kanye West.

In 2018, Versace made headlines once again when it was acquired by Michael Kors Holdings for $2.1 billion. The sale marked a new chapter in the company’s history and raised questions about how the brand would evolve under new ownership.

Despite the change in ownership, Donatella Versace remains as the creative director of the company. She has stated that she will continue to uphold her brother’s legacy while also embracing new opportunities and challenges.

In conclusion, Gianni Versace’s death was a huge loss to the fashion world, but his legacy lives on through his eponymous brand. Under Donatella’s leadership and subsequent owners, Versace has continued to thrive and expand into new markets. Today, it remains one of the most iconic luxury fashion brands in the world.