If you’re a fashion enthusiast, you may have wondered whether Versace, the renowned Italian luxury fashion brand, is publicly listed. In this article, we’ll delve into the status of Versace’s ownership and its history of ownership changes.
History of Versace
Versace was founded in 1978 by Gianni Versace in Milan, Italy. The brand quickly gained popularity for its bold designs and luxurious materials.
However, in 1997, tragedy struck when Gianni Versace was murdered outside of his Miami mansion. After his death, his sister Donatella took over as creative director.
In 2018, Michael Kors Holdings Ltd (now Capri Holdings Limited) acquired Versace for $2.1 billion. Capri Holdings also owns other luxury brands such as Jimmy Choo and Michael Kors.
Is Versace Publicly Listed?
No, Versace is not publicly listed on any stock exchange. It is a privately owned company under the ownership of Capri Holdings Limited.
Why Companies Choose to Go Public
Going public means that a company’s shares are available for purchase by the general public on a stock exchange. This can be an attractive option for companies looking to raise capital for expansion or to pay off debt. It also enables companies to offer employee stock options as a form of compensation.
However, going public also comes with drawbacks such as increased regulatory requirements and pressure to meet quarterly earnings Targets.
Benefits of Being Privately Owned
Being privately owned allows companies like Versace to maintain more control over their operations without having to answer to shareholders or analysts focused solely on financial performance. They can focus on long-term growth strategies rather than short-term gains.
Additionally, private companies can keep sensitive information confidential without having to disclose it to the public.
In summary, Versace is not publicly listed but is privately owned by Capri Holdings Limited. While going public can be a desirable option for some companies, being privately owned allows Versace to maintain control over its operations and focus on long-term growth strategies.