Have you ever wondered how much Versace, the globally recognized luxury brand, is worth? Well, wonder no more! In this article, we will delve into the history of Versace and its current valuation.
The Origins of Versace
Founded in 1978 by Gianni Versace, an Italian fashion designer, Versace quickly became a symbol of luxury and extravagance. The brand’s trademark Medusa head logo and bold prints made it instantly recognizable in the fashion industry.
Gianni’s siblings, Santo and Donatella Versace, played integral roles in the growth and success of the brand. After Gianni’s untimely death in 1997, Donatella took over as creative director. Under her leadership, Versace continued to innovate and expand its offerings beyond just clothing.
The Brand’s Expansion
Today, Versace has a global presence with over 200 retail stores worldwide. Their product line includes clothing for men and women, accessories such as handbags and sunglasses, fragrances, and home goods.
In recent years, they have also expanded their reach by collaborating with other brands such as H&M and collaborating with artists like Bruno Mars on merchandise for his tour.
The Current Valuation
So how much is the Versace brand worth? In 2018, Michael Kors Holdings Limited (now known as Capri Holdings Limited) acquired Versace for $2.12 billion. This valuation took into account the brand’s global presence and reputation as a luxury fashion house.
Since then, Capri Holdings Limited has continued to invest in expanding the brand through new store openings and digital initiatives. In their most recent financial report from February 2021, they reported that sales for the Versace segment had increased by 17% compared to the previous year.
Conclusion
In conclusion, Versace’s current worth is estimated to be around $2.5 billion. This valuation is a testament to the brand’s enduring popularity and the Versace family’s commitment to innovation and expansion. Whether you love their bold prints or their iconic Medusa logo, there’s no denying that Versace is a fashion powerhouse that will continue to influence the industry for years to come.