What Happened to Versace?

On July 15, 1997, the fashion world was shaken by the tragic death of Gianni Versace, the founder of the iconic Italian fashion house, Versace. Shot outside his Miami Beach mansion by serial killer Andrew Cunanan, Gianni’s death marked the end of an era and left many wondering what would become of Versace without its visionary leader.

The Rise of Versace
Gianni Versace was born in Reggio Calabria, Italy in 1946. He began his fashion career in the late 1970s and quickly gained recognition for his bold designs and use of vibrant colors.

He launched his eponymous label in 1978 and soon became a favorite among celebrities like Madonna, Princess Diana, and Elton John. In addition to clothing, Versace also expanded into accessories, fragrance, and home furnishings.

The Aftermath of Gianni’s Death
Following Gianni’s death, his sister Donatella assumed control of the company as creative director. Despite initial doubts from critics and investors about her ability to fill her brother’s shoes, Donatella proved to be a talented designer in her own right. She continued to infuse the brand with Gianni’s signature opulence while also introducing new elements such as streetwear-inspired designs.

Collaborations and Expansion
Under Donatella’s leadership, Versace has continued to thrive through collaborations with other brands such as H&M and collaborations with celebrities like Lady Gaga. In recent years, the brand has also expanded into new markets such as China and launched a successful home decor line.

The Future of Versace
In September 2018, it was announced that luxury fashion conglomerate Michael Kors Holdings Limited had acquired Versace for $2.12 billion. The move raised concerns among some fashion insiders that the brand may lose its distinct identity under new ownership. However, Donatella has remained at the helm of the design team and has stated that the acquisition will allow Versace to continue to grow and expand into new markets.

Despite the tragic loss of its founder, Versace has continued to thrive under the leadership of Donatella and has expanded into new markets and collaborations while still staying true to its roots. The recent acquisition by Michael Kors Holdings Limited raises questions about the brand’s future, but only time will tell how it will continue to evolve and adapt in the ever-changing world of fashion.