Gianni Versace was a famous Italian fashion designer who founded the luxury fashion house Versace. The brand is known for its high-end clothing, accessories, fragrances, and home furnishings.
After Gianni’s death in 1997, his siblings took over the business until it was eventually sold to Michael Kors Holdings Limited in 2018. But just how much was Versace worth during its heyday?
Early Days of Versace
Gianni Versace founded his eponymous company in 1978 in Milan, Italy. He quickly gained a reputation for his innovative designs and use of bold colors and prints. By the 1980s, Versace had become a household name and was considered one of the most influential designers in the fashion industry.
The Height of Success
During the 1990s, Versace continued to grow and expand its brand globally. The company’s revenue reached its peak in 1995 when it reportedly earned $807 million. At this time, Gianni owned 45% of the company while his brother Santo owned 35%, and sister Donatella owned the remaining 20%.
Tragedy Strikes
In July 1997, Gianni Versace was tragically murdered outside his Miami Beach mansion. This event sent shockwaves through the fashion world and left many wondering what would happen to his beloved brand.
Family Takes Over
After Gianni’s death, his siblings took over the business with Donatella serving as creative director and Santo as CEO. Under their leadership, Versace continued to thrive but faced financial difficulties due to mismanagement.
Sold to Michael Kors Holdings Limited
In September 2018, Michael Kors Holdings Limited announced that it had acquired Versace for $2.12 billion. This move was seen as a strategic one for Michael Kors as it sought to expand its luxury portfolio and compete with other high-end brands such as Louis Vuitton and Gucci.
Conclusion
While Versace’s worth fluctuated over the years, there’s no denying the impact that Gianni Versace had on the fashion industry. His bold and innovative designs continue to inspire designers today. And while the brand may have changed hands, its legacy lives on.
8 Related Question Answers Found
Versace is a name that has been synonymous with high-end fashion and glamour for decades. The brand was founded by Gianni Versace in 1978, and since then, it has become one of the most recognizable names in the fashion world. However, with Gianni’s untimely death in 1997, there has been much speculation about how much Versace was worth.
Versace is a luxury fashion brand that has been around for several decades. The brand was founded by Gianni Versace in 1978 and has since become one of the most recognizable names in the fashion industry. Despite the tragic death of its founder, the brand has continued to thrive under the leadership of Donatella Versace.
Versace is a luxury fashion brand that has been around for decades. It was founded in 1978 by Gianni Versace, and has since become one of the most recognizable names in the fashion industry. The brand is known for its bold designs, luxurious fabrics, and high price tags.
Versace is a luxury fashion brand that was founded by Gianni Versace in 1978. The brand has come a long way since its inception and is now one of the most iconic fashion labels in the world. With its exquisite designs and high-end products, Versace has attracted a loyal customer base that includes some of the biggest names in the entertainment industry.
Versace is one of the most well-known luxury fashion brands in the world. The company was founded in 1978 by Gianni Versace, and since then, it has become a symbol of high-end fashion and luxury. But just how much money is Versace worth today?
Versace is one of the most iconic and well-known luxury fashion brands in the world. Founded in 1978 by Gianni Versace, the brand has become synonymous with high-end fashion, luxury, and glamour. But just how much is the Versace brand worth?
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.
Are you curious about the worth of one of the most renowned fashion brands in the world? Versace is a name that has become synonymous with luxury, style, and elegance. Established in 1978 by Gianni Versace, this Italian fashion house has been a staple in the fashion industry for over four decades.
