Versace is a luxury fashion brand known for its bold and daring designs. Over the years, the brand has been bought by several companies, each with their own vision for the future of Versace. In this article, we will explore the various brands that have purchased Versace and how it has impacted the brand’s identity and legacy.
Gianni Versace
The founder of Versace, Gianni Versace, started his fashion journey in 1978 in Milan. He quickly gained recognition for his bold and colorful designs, which were a departure from the minimalism that was popular at the time. His designs were worn by celebrities like Princess Diana and Elton John, cementing his status as a fashion icon.
The First Acquisition
In 1999, Gianni Versace was tragically killed outside of his Miami Beach home. Following his death, his siblings took over the company. However, in 2018, it was announced that Michael Kors Holdings had purchased Versace for $2.1 billion.
Michael Kors Holdings
Michael Kors Holdings is a fashion conglomerate that owns several luxury brands, including Jimmy Choo and Michael Kors. The acquisition of Versace marked their first foray into high-end Italian fashion.
With Michael Kors Holdings at the helm, Versace underwent some changes to appeal to a broader audience. The company launched a line of more affordable products called “Versace Jeans Couture” and collaborated with popular streetwear brand “Supreme”. They also began to focus more on online sales to reach customers worldwide.
Capri Holdings Limited
In 2020, Michael Kors Holdings changed its name to Capri Holdings Limited to reflect its growing portfolio of luxury brands. Later that same year, they announced that they had purchased Italian fashion house Valentino for $2.
Valentino
Valentino is another Italian fashion brand known for its luxurious and romantic designs. With the acquisition of Valentino, Capri Holdings Limited became one of the largest luxury fashion companies in the world.
The Impact on Versace
Under Capri Holdings Limited, Versace has continued to evolve and expand. In 2021, they launched a sustainable collection made with recycled materials and announced plans to open more stores in Asia.
Despite these changes, Versace has managed to maintain its signature style and remain relevant in the ever-changing world of fashion. The brand’s bold designs and innovative collaborations continue to attract a loyal following of customers who appreciate its unique aesthetic.
Conclusion
Over the years, Versace has been owned by several brands that have helped shape its identity and legacy. From Gianni Versace’s original vision to Michael Kors Holdings’ focus on accessibility and Capri Holdings Limited’s expansion into other luxury brands, each owner has left their mark on the iconic fashion house.
Today, under the leadership of Capri Holdings Limited, Versace continues to push boundaries and create innovative designs while staying true to its roots. It will be exciting to see what the future holds for this legendary fashion brand.