Versace is a globally recognized luxury fashion brand that has been around for over four decades. Founded in 1978 by Gianni Versace, the company has expanded its product offerings beyond clothing and accessories to include home decor and furnishings. The Versace Home line was launched in 1992, offering a range of furniture, textiles, and accessories for the home.
Who owns Versace Home?
The ownership of Versace Home is somewhat complicated. While the brand itself is owned by Capri Holdings Limited, which also owns Michael Kors and Jimmy Choo, the home division operates as a separate entity.
In 2014, Versace sold a 20% stake in its home business to a private equity firm called Blackstone Group. The deal valued the home business at €69 million (approximately $83 million at the time).
In 2018, Blackstone sold its stake in Versace Home to another private equity firm called Cinven. The terms of the deal were not disclosed, but it was reported that Cinven planned to expand the home business globally and invest in new product categories.
What does this mean for Versace Home?
The change in ownership from Blackstone to Cinven is not expected to have a significant impact on the day-to-day operations of Versace Home. However, it does signal a renewed focus on growing the business and expanding its reach.
Versace Home has always been known for its opulent designs and high-quality materials. The brand has collaborated with top architects and designers to create stunning collections that are both functional and beautiful. Some of the notable collaborations include those with interior designer Sasha Bikoff and architect Piero Lissoni.
The Future of Versace Home
With Cinven’s investment, it is likely that we will see more collaborations and new product categories from Versace Home in the coming years. The brand has already expanded into lighting, rugs, and wallpaper, and there is potential for further growth in areas like tableware and kitchen accessories.
Versace Home has a strong presence in Europe and Asia, but there is room for expansion in other markets. The brand has opened showrooms in major cities like Milan, New York, and Shanghai, and it is likely that we will see more locations opening up in the future.
Conclusion
In conclusion, Versace Home is a separate entity from the main Versace brand and is currently owned by private equity firm Cinven. With this new ownership comes the potential for expansion and growth in new product categories and markets. As always, Versace Home will continue to offer luxurious designs that are both functional and beautiful.
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