There has been much confusion and speculation surrounding the ownership of the iconic fashion brand, Versace, particularly after the tragic death of its founder, Gianni Versace. One question that often arises is: does Donatella Versace own Versace? Let’s explore this topic in-depth.
Who is Donatella Versace?
Firstly, let’s introduce Donatella Versace. She is the younger sister of Gianni and Santo Versace, who were the co-founders of the fashion house back in 1978.
After Gianni’s untimely death in 1997, Donatella was appointed as the creative director of Versace. Since then, she has been heavily involved in designing and overseeing the brand’s collections, as well as its marketing campaigns.
Versace’s Ownership History
To understand if Donatella owns Versace today, we must look at its ownership history. In 2018, Michael Kors Holdings (now known as Capri Holdings Limited) acquired the Italian fashion house for a whopping $2.12 billion. This acquisition made Capri Holdings Limited the owner of both Michael Kors and Versace brands.
However, it’s important to note that prior to this acquisition, Gianni had left 50% of his stake in the company to his niece Allegra Beck when he passed away. The remaining 50% stake was split between Donatella and Santo, with each receiving a 20% share while Donatella’s daughter received a 5% share.
What does this mean for Donatella?
While it may seem like Donatella no longer has any ownership stake in her family’s business after Capri Holdings’ acquisition of Versace in 2018, this isn’t entirely true. According to reports, she still holds a significant role within the company as the creative director. Additionally, her daughter Allegra still owns a 50% stake in the company, which makes her one of the most significant shareholders of Versace.
Conclusion
In conclusion, Donatella Versace does not technically own Versace today after its acquisition by Capri Holdings Limited in 2018. However, she still plays a crucial role in the brand’s creative direction and has been instrumental in maintaining Versace’s signature aesthetic and style. Her niece Allegra Beck’s 50% stake in the company also means that there is still some family involvement in the business.