Donatella Versace is a name that is synonymous with the luxury fashion brand, Versace. The Italian fashion designer has been an integral part of the brand’s success since the 1980s when she joined her brother Gianni Versace to run the company. But after Gianni’s untimely death in 1997, there has been some confusion about who owns Versace and if Donatella still holds the reins of this iconic fashion house.
Who owns Versace now?
In September 2018, Michael Kors Holdings Limited (now renamed Capri Holdings Limited) announced that it had acquired Versace for $2.12 billion. The acquisition meant that Versace was no longer a family-owned business but had become a part of a larger conglomerate that includes other luxury brands like Jimmy Choo and Michael Kors.
While this news might have come as a surprise to some people, it was not entirely unexpected. In recent years, there had been rumors that the Versace family was considering selling the brand to outside investors to raise capital for expansion and growth.
What is Donatella’s role in Versace now?
Despite the acquisition by Capri Holdings, Donatella Versace remains an important figure in the company. In fact, she continues to serve as the creative director of the brand and oversees all aspects of its design and production.
Donatella’s influence can be seen in many of Versace’s recent collections, which feature bold prints, bright colors, and daring cuts that are synonymous with her signature style. She also played an instrumental role in expanding Versace’s presence in Asia and other emerging markets.
What does this mean for Versace?
The acquisition by Capri Holdings has brought some changes to how Versace operates as a business. For example, there has been an increased focus on digital marketing and e-commerce to reach a wider audience and drive sales.
Additionally, there have been some changes to the company’s leadership structure. Jonathan Akeroyd, who previously served as the CEO of Alexander McQueen, was appointed as CEO of Versace in 2019. This move was seen as a strategic decision to bring in fresh leadership and expertise to help the brand grow and evolve.
Despite these changes, however, Versace remains committed to its core values of luxury, innovation, and creativity. As Donatella herself once said, “Versace is not just a label, it’s a way of life.” And under her continued guidance and leadership, the brand is sure to remain an icon of fashion for many years to come.
Conclusion
In conclusion, while Donatella Versace no longer owns Versace after its acquisition by Capri Holdings in 2018, she continues to play an essential role in the brand’s creative direction and overall vision. The acquisition has brought some changes to how Versace operates as a business but has not detracted from its commitment to luxury and innovation. As such, Versace remains one of the most iconic fashion houses in the world today.
- Key Takeaways:
- Michael Kors Holdings Limited (now Capri Holdings Limited) acquired Versace for $2.
- Donatella Versace remains the creative director of the brand.
- Versace has undergone some changes since its acquisition but remains committed to its core values.