Versace is a well-known luxury brand that has been around for more than four decades. Founded by Gianni Versace in 1978, the brand has become synonymous with high fashion and luxury. In September 2018, it was announced that the Italian fashion house had been sold to an American company for a whopping sum of $2.1 billion.
The Acquisition
The acquisition of Versace was made by Michael Kors Holdings Limited, which later changed its name to Capri Holdings Limited. Capri Holdings also owns two other luxury brands, Jimmy Choo and Michael Kors.
The Price Tag
The price tag on the Versace acquisition was a staggering $2. This amount was paid in full by Capri Holdings Limited, making it one of the largest acquisitions in the fashion industry to date.
The Rationale Behind The Sale
The sale of Versace to Capri Holdings Limited came as a surprise to many in the industry. However, some analysts believed that it was a strategic move by both companies.
For Capri Holdings Limited, buying Versace meant expanding its already impressive portfolio and gaining access to new markets. For Versace, the sale meant access to more resources and increased exposure on a global scale.
Versace’s Performance Prior To The Sale
Before the sale, Versace had been performing well financially. In 2017 alone, the company reported a revenue of €686 million ($808 million). However, despite its financial success, some industry experts believed that the brand needed new leadership and direction in order to continue growing.
What The Future Holds For Versace
Since the acquisition, there have been several changes at Versace. One of the most notable changes was the appointment of Jonathan Akeroyd as CEO in February 2019. Akeroyd was previously the CEO of Alexander McQueen and is expected to bring a fresh perspective to Versace.
It remains to be seen how the acquisition will affect Versace in the long run. However, with the financial backing and resources of Capri Holdings Limited, there is no doubt that the brand has a bright future ahead.
- Capri Holdings Limited acquired Versace for $2.
- The acquisition was made in September 2018.
- The sale was a strategic move for both companies.
- Before the sale, Versace had been performing well financially.
- Since the acquisition, there have been several changes at Versace, including the appointment of a new CEO.
Conclusion
In conclusion, the sale of Versace to Capri Holdings Limited for $2.1 billion was a significant event in the fashion industry. The acquisition has paved the way for new opportunities and growth for both companies. With its new leadership and financial backing, Versace is poised for continued success in the future.
8 Related Question Answers Found
Versace is a luxury fashion brand that is known for its high-end clothing, accessories, and home goods. The brand was founded in 1978 by Gianni Versace and quickly became a favorite of celebrities and fashion enthusiasts around the world. Today, Versace is a part of the Capri Holdings Limited family of brands, which also includes Michael Kors and Jimmy Choo.
On September 25th, 2018, news broke that Donatella Versace had sold her family’s fashion brand to Michael Kors Holdings Limited (now known as Capri Holdings Limited) for a staggering $2.12 billion. This news sent shockwaves through the fashion industry and left many wondering what the future held for the iconic Italian label. The Background
Versace was founded in 1978 by Gianni Versace and quickly became one of the most recognizable fashion brands in the world.
If you’re a budding model, you may be wondering how much Versace models earn. After all, Versace is one of the most iconic and recognized fashion brands in the world, and modeling for them can be a dream come true. In this article, we’ll explore how much money Versace models make.
On September 25, 2020, the late fashion designer Gianni Versace’s Miami Beach mansion was sold for a staggering $30 million. The sale came after the property had been on the market for almost a year, with an initial asking price of $125 million in 2012. The iconic mansion, known as Casa Casuarina, was originally built in 1930 by architect Alden Freeman and later purchased by Versace in 1992.
Are you curious about the salaries of Versace employees? Well, you’re in luck because we’ve gathered information about the average pay scales for various roles at Versace. Corporate Office Positions
If you’re interested in a corporate role at Versace, the average salary for a corporate office employee is around $75,000 per year.
Gianni Versace founded the luxury fashion brand Versace in 1978. The Italian fashion designer created a name for himself by designing bold, vibrant, and daring clothes that were worn by some of the biggest celebrities in the world. After his untimely death in 1997, his sister Donatella took over as the creative director of the brand.
If you’re considering a job at a Versace store, one of the questions you might be wondering is how much employees make. While salaries can vary depending on the position and location, we’ll take a closer look at some general information to give you an idea. Positions at Versace stores
Sales Associate
Keyholder/Assistant Manager
Store Manager
Visual Merchandiser
Tailor/Seamstress
Salary Information
Sales Associate:
Average hourly pay for a Sales Associate at Versace is around $13.50.
Are you interested in working for Versace as a sales associate? One of the most important factors in deciding whether or not to pursue a job is the salary. So, how much do Versace pay sales associates?
