Versace is a luxury fashion brand that was founded in 1978 by Gianni Versace. The brand is known for its bold designs and high-end clothing, accessories, and home furnishings.
Over the years, Versace has become a household name and is recognized as one of the leading fashion brands in the world. But is Versace a public company? Let’s take a closer look.
Private Ownership
Versace is not a public company, but rather a private one. This means that the company is owned by individuals or other private companies rather than being publicly traded on stock exchanges like the New York Stock Exchange or NASDAQ. In the case of Versace, the company was originally owned by Gianni Versace and his family.
Acquisition by Capri Holdings
In 2018, it was announced that Capri Holdings Limited (formerly known as Michael Kors Holdings Limited) would be acquiring Versace for $2.12 billion USD. Capri Holdings is a publicly traded company on the New York Stock Exchange (NYSE: CPRI) that also owns other luxury brands such as Michael Kors and Jimmy Choo.
Despite being acquired by a public company, Versace remains a private company under Capri Holdings’ ownership. This means that while Capri Holdings shareholders own shares in the parent company, they do not directly own shares of Versace.
Benefits of Being Private
There are several benefits to being a private company rather than going public. One major advantage is that private companies have more control over their operations and decision-making processes since they are not beholden to shareholders or regulatory requirements.
Additionally, being private allows companies like Versace to maintain their exclusivity and brand image since they do not have to cater to public shareholders’ demands for profits or growth at all costs.
Conclusion
In summary, Versace is not a public company but rather a private one that was recently acquired by Capri Holdings Limited. While being private has its advantages, it also means that the company’s financial information is not publicly available. Nonetheless, Versace remains one of the most iconic and influential fashion brands in the world, known for its daring designs and luxurious products.