The Versace family is one of the most iconic fashion dynasties in the world. Founded by Gianni Versace in 1978, the brand has become synonymous with high-end luxury fashion and accessories. Today, the Versace name is recognized around the globe for its bold designs, bright colors, and signature Medusa logo.
So how much is the Versace family worth? Let’s take a closer look at their net worth and how they’ve managed to build such an impressive fortune.
Gianni Versace: The Founder
Gianni Versace was born in Italy in 1946 and grew up in a small town outside of Reggio Calabria. He began his career as a designer working for other fashion houses before launching his own brand in 1978. His first collection was an instant success, and he quickly became known for his daring designs and use of bold colors.
Throughout the 1980s and 1990s, Gianni Versace’s star continued to rise. He dressed some of the biggest celebrities in Hollywood, including Princess Diana, Elton John, and Madonna. He also expanded his brand to include fragrances, home goods, and even a line of luxury cars.
Unfortunately, Gianni’s life was cut short when he was tragically murdered outside of his Miami Beach home in 1997 at the age of 50.
The Family Business
After Gianni’s death, his siblings Donatella and Santo took over the reins of the company. Donatella became creative director while Santo served as CEO. Despite facing some challenges early on, including declining sales and financial struggles, they were eventually able to turn things around.
Today, Donatella remains creative director while Santo serves as chairman. The family still holds a controlling stake in the company but sold it to Michael Kors for $2.1 billion in 2018.
The Versace Family Net Worth
So just how much is the Versace family worth? According to Forbes, the Versace family has a net worth of around $800 million. This includes Donatella, Santo, and Gianni’s niece Allegra, who inherited 50% of the company when she turned 18 in 2004.
While $800 million is certainly nothing to sneeze at, it’s worth noting that the Versace family’s net worth pales in comparison to some of their competitors. For example, the Chanel family is estimated to be worth around $57 billion, while the Arnault family (which owns Louis Vuitton and other luxury brands) is worth around $150 billion.
The Legacy of Gianni Versace
Regardless of their net worth, there’s no denying that the Versace family has made an indelible mark on the fashion world. Gianni Versace’s bold designs and daring vision paved the way for future generations of designers to push boundaries and challenge norms.
And while his life may have been cut short, his legacy lives on through his brand and his family. Today, nearly 25 years after his death, people around the world still covet his designs and look to him as a symbol of creativity and innovation in fashion.