Versace is a renowned luxury fashion brand that has been around for over four decades. The Italian label is known for its bold designs, vibrant colors, and iconic Medusa logo. But despite its success, many people still wonder – is Versace still family-owned?
The answer to that question is yes and no. The Versace family still has a significant stake in the company, but they are no longer the majority shareholders. In 2018, Michael Kors Holdings (now known as Capri Holdings Limited) acquired Versace for $2.12 billion.
While this acquisition may have come as a surprise to some, it was not entirely unexpected. In recent years, Versace had been struggling financially, and the family was looking for ways to secure the brand’s future. Donatella Versace (the current vice president and chief designer of Versace) stated that they chose to partner with Capri Holdings because they shared similar values and vision for the brand.
Despite no longer being the majority shareholders, the Versace family still plays a significant role in the company’s operations. Donatella Versace remains as creative director of the brand and her brother Santo Versace serves as chairman. In fact, after the acquisition by Capri Holdings, Santo stated that he believed it was “the best decision for our company.”
So while technically not entirely family-owned anymore, it’s clear that the Versace family still has a strong connection to their eponymous brand and will continue to influence its trajectory.
In conclusion, while Michael Kors Holdings may have acquired a majority stake in 2018, the Versace family still holds an important position within their fashion house. Fans can rest assured that despite outside ownership, they will continue to see Donatella’s stunning designs grace runways around the world while being backed by strong financial support from Capri Holdings Limited.
Conclusion
In conclusion, the acquisition of Versace by Capri Holdings Limited in 2018 was a significant move for the brand, but it doesn’t mean that the Versace family is no longer involved. While they may not be the majority shareholders, they still hold important positions within the company and will continue to influence its future. Regardless of ownership, one thing is for sure – Versace’s bold and iconic designs will continue to captivate audiences for many years to come.
9 Related Question Answers Found
Versace is a well-known luxury fashion brand that has been around for over four decades. Founded in 1978 by Gianni Versace, the brand quickly gained popularity for its bold and vibrant designs. However, with the unfortunate passing of Gianni Versace in 1997, many have questioned whether or not the company is still a family-owned business.
Versace, the luxury fashion brand, has been a household name since its inception in 1978. Founded by Gianni Versace, the brand has become synonymous with glamour and sophistication. However, many people wonder whether Versace is still privately owned or if it’s now part of a larger corporation.
Versace is a luxury fashion brand that has been around for more than four decades. Founded in 1978 by Gianni Versace, the brand quickly became synonymous with opulence, glamour, and high fashion. However, one question that many people ask is whether Versace is still a privately owned company or if it has been acquired by a bigger conglomerate.
If you’re a fashion enthusiast, you’ve probably heard about Versace, the Italian luxury fashion brand that has been around for over four decades. However, with the changing times and evolving fashion trends, many people have been wondering if Versace is still a relevant brand. In this article, we’ll take a closer look at the current state of Versace and answer the question – Is Versace still a brand?
Versace is a renowned Italian luxury fashion company that has been in the industry for over 40 years. The company was founded by Gianni Versace in 1978 and has since then become a symbol of elegance, glamour, and sophistication. However, there have been rumors circulating on the internet that Versace is no longer a company.
If you’re a fashion enthusiast, you may have heard of the iconic Italian fashion house, Versace. Known for its bold designs and luxurious materials, Versace has been a prominent figure in the fashion industry for decades. But with changing times and shifting consumer preferences, many people wonder if Versace is still in business.
There has been a lot of speculation and rumors about the ownership of the iconic fashion brand Versace, especially after the tragic death of its founder Gianni Versace in 1997. One question that frequently comes up is whether Donatella Versace, Gianni’s sister and longtime collaborator, still owns the company. Let’s take a closer look at the facts.
Versace is a luxury fashion brand known worldwide for its glamorous designs and exceptional quality. The brand was founded in 1978 by the late Gianni Versace, an Italian fashion designer, and has since then been associated with sophistication and extravagance. The question that frequently comes up is whether Versace is owned by the family or not.
If you’re a fashion enthusiast, chances are you’ve heard of the iconic Italian brand Versace. Founded in 1978 by Gianni Versace, the fashion house quickly became known for its bold prints, vibrant colors, and daring designs. However, in recent years, there has been some confusion surrounding the state of the company.
