If you’re a fashion enthusiast, you might have come across the brand Versus Versace. The name is quite similar to the iconic fashion brand, Versace. However, there might be some confusion about whether Versus Versace is owned by Versace or not.
The History of Versus Versace
Versus Versace is a fashion brand that was launched in 1989 by Gianni Versace. The idea behind this brand was to create a diffusion line that would cater to younger audiences and offer more affordable clothing options. The brand quickly gained popularity and became known for its bold designs and prints.
In 1997, Gianni Versace was tragically murdered, which led to a significant change in the company’s ownership structure. The company was family-owned until 2018 when Michael Kors Holdings Ltd. acquired the company for $2.1 billion.
Is Versus Versace Owned by Versace?
The short answer is no; however, it’s not entirely straightforward.
After Gianni’s death, his sister Donatella took over as the creative director of the company. She continued to oversee both the mainline brand and the diffusion line, which included Versus Versace.
In 2009, Donatella made a significant change to the ownership structure of the company by selling a 20% stake in the business to Blackstone Group LP. This move allowed them to focus on expanding their operations globally and invest in new areas such as e-commerce and digital marketing.
Fast forward to 2018, Michael Kors Holdings Ltd., now Capri Holdings Limited (CPRI), acquired Gianni’s remaining stake in the company for $2. This acquisition included all brands under the parent company of Gianni Versace S.r.l., including both mainline and diffusion lines.
So technically speaking, while Donatella oversaw both brands simultaneously, Versus Versace was not entirely owned by the mainline brand. However, after the acquisition by CPRI, both brands are now under the same parent company.
In summary, Versus Versace is not owned by Versace but is now part of the same parent company after an acquisition by Capri Holdings Limited. Despite this, both brands remain distinct and offer unique fashion options to a diverse range of audiences.
As a fashion enthusiast, it’s essential to understand the ownership structures of different brands to make informed choices about where to invest your money. Hopefully, this article has helped clear up any confusion around the ownership of Versus Versace.