There have been rumors circulating about the luxury fashion brand, Versace, going out of business. However, these rumors are unfounded and false.
Background on Versace:
Versace is an Italian fashion company that was founded by Gianni Versace in 1978. The brand is known for its luxury clothing, accessories, fragrances, and home furnishings. After Gianni Versace’s tragic death in 1997, his sister Donatella took over as the creative director of the company.
The False Rumors:
Recently, there have been rumors that Versace is going out of business due to financial troubles and a decline in sales. These rumors started circulating after some stores began discounting their Versace products.
However, these discounts were not indicative of the brand’s overall performance. In fact, according to Business Insider, Versace’s parent company, Capri Holdings Limited (formerly Michael Kors Holdings Limited), reported a 16% increase in revenue for the third quarter of 2021 compared to the same period last year.
Capri Holdings’ Statement:
In response to the false rumors about Versace going out of business, Capri Holdings released a statement saying: “We would like to clarify that there is absolutely no truth to recent reports regarding the future of Versace. Donatella Versace continues to lead the brand’s creative vision as she has done so successfully for over 20 years.”
Versace’s Future:
Versace has been around for over four decades and has established itself as a prominent luxury fashion brand worldwide. The brand continues to release new collections each season and collaborate with other designers and companies.
Furthermore, Donatella Versace remains dedicated to keeping her brother Gianni’s vision alive through her designs and leadership within the company.
Conclusion:
In conclusion, there is no truth to the rumors about Versace going out of business. The brand continues to thrive and grow under the leadership of Donatella Versace and Capri Holdings Limited. Fans of the brand can rest assured that their favorite luxury fashion label is not going anywhere anytime soon.
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