Is the Versace Company Still in Business?

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If you’re a fashion enthusiast, chances are you’ve heard of the iconic Italian brand Versace. Founded in 1978 by Gianni Versace, the fashion house quickly became known for its bold prints, vibrant colors, and daring designs.

However, in recent years, there has been some confusion surrounding the state of the company. So, is the Versace company still in business? Let’s take a closer look.

History of Versace

Before we dive into the current state of the company, let’s first explore its storied history. Gianni Versace founded the brand in Milan, Italy, and quickly gained a reputation for his bold and inventive designs. Throughout the 1980s and 1990s, Versace became a household name thanks to its celebrity clientele and high-profile runway shows.

However, in 1997 tragedy struck when Gianni was murdered outside his Miami Beach home. Despite this devastating loss, the brand continued under the leadership of Gianni’s siblings Santo and Donatella Versace.

The Acquisition by Michael Kors

In September 2018, it was announced that Michael Kors Holdings (now known as Capri Holdings) would be acquiring Versace for $2.12 billion USD. This acquisition was seen as a major move by Michael Kors to expand into high-end luxury fashion.

Since then, there have been some changes within the company. Donatella Versace has remained as creative director while also becoming vice president of the board. Additionally, Jonathan Akeroyd was appointed CEO in early 2020.

Despite these changes and acquisitions, one thing remains clear: Versace is still very much in business. In fact, under Michael Kors’ ownership, the brand has continued to expand its global reach and appeal.

Versace Today

Today, Versace remains one of the most recognizable and respected names in fashion. The brand is known for its bold prints, daring designs, and luxurious materials. In addition to its high-end clothing lines, Versace also produces a range of accessories and fragrances.

So, to answer the question: Yes, the Versace company is still in business and shows no signs of slowing down anytime soon. Whether you’re a die-hard fan or simply appreciate their bold designs, it’s clear that Versace will continue to be a major player in the fashion industry for years to come.

Conclusion

In conclusion, Versace has gone through some changes over the years but remains a formidable force within the fashion industry. From its humble beginnings in Milan to its acquisition by Michael Kors Holdings, the brand has continued to innovate and inspire with its unique designs and luxurious materials. So if you’re wondering whether or not Versace is still in business, rest assured that it most certainly is – and it’s showing no signs of slowing down anytime soon.

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