If you’re a fashion enthusiast, you must have heard of the iconic fashion house, Versace. Known for its bold and luxurious designs, Versace has been a favorite amongst the elite fashionistas for decades.
But have you ever wondered who owns Versace in Dubai? Let’s take a closer look.
Background
Versace was founded in 1978 by the late Gianni Versace in Milan, Italy. The brand quickly gained popularity and became synonymous with opulence and glamour. After Gianni’s tragic death in 1997, his sister Donatella took over as Creative Director and continued to lead the brand to new heights.
The Acquisition
In 2018, it was announced that Michael Kors Holdings (now known as Capri Holdings Limited) had acquired Versace for $2.12 billion dollars. However, it’s important to note that this acquisition only includes the brand’s clothing and accessories lines.
Who Owns Versace in Dubai?
In Dubai specifically, the answer is Majid Al Futtaim. Majid Al Futtaim is a leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia. The company is known for its ownership of Mall of the Emirates – one of Dubai’s most popular malls – and also holds exclusive rights to operate Carrefour stores across 38 countries.
In 2020, Majid Al Futtaim announced that it had signed a strategic partnership with Versace to bring its high-end fashion offerings to Mall of the Emirates. Under this partnership agreement, Majid Al Futtaim will become the sole franchisee for all Versace brands in UAE.
Conclusion
So there you have it! While Michael Kors Holdings may own Versace globally, in Dubai specifically, Majid Al Futtaim holds the exclusive franchise rights. With this partnership, the fashion house will continue to offer its iconic designs to the elite fashionistas of Dubai.
If you’re a fan of Versace, be sure to check out their collection at Mall of the Emirates. Who knows? You may just find your next statement piece.
7 Related Question Answers Found
Palazzo Versace is a luxurious hotel located in the heart of Dubai. The hotel is known for its exquisite architecture, designer interiors, and top-notch services. However, many people wonder who owns this magnificent property.
Palazzo Versace Hotel Dubai is a luxurious hotel located in the heart of Dubai. It is known for its opulent design, world-class amenities, and exceptional hospitality. If you are wondering who the owner of this magnificent hotel is, then you have come to the right place.
If you’re planning a visit to Dubai and looking for a luxurious stay, the Palazzo Versace Hotel might be on your radar. This opulent hotel is known for its Italian-inspired decor and world-class amenities, but have you ever wondered who is the owner behind this lavish property? The Owner of Palazzo Versace Hotel in Dubai
The Palazzo Versace Hotel in Dubai is owned by Emirates International Holdings (EIH), a Dubai-based company that specializes in real estate development, investment, and management.
Versace is a luxury fashion brand that has been around for over 40 years. Founded by Gianni Versace in 1978, the Italian brand has become known for its bold designs, bright colors, and intricate patterns. However, after Gianni’s untimely death in 1997, the ownership of the Versace brand has changed hands several times.
If you are a fashion enthusiast, you must have heard of the iconic Italian fashion brand Versace. The brand is known not only for its high-end fashion products but also for its luxurious properties. One of the most famous properties owned by the Versace family is the Versace House, also known as Casa Casuarina.
If you’re a fashion enthusiast, you’ve probably heard of Versace, the Italian luxury fashion label that’s known for its bold designs and vibrant colors. But have you ever wondered who owns this iconic empire? The Versace Family
The Versace family is the founder and current owner of the Versace brand.
Versace is a world-renowned luxury fashion brand that has been around for over four decades. Founded by the legendary designer Gianni Versace in 1978, the brand has become synonymous with high-end fashion and opulence. But who actually owns the Versace brand today?
