Have you ever wondered which company owns the iconic luxury fashion brand, Versace? Well, wonder no more! In this article, we will take a deep dive into the ownership of Versace and explore the history behind this legendary brand.
The Beginning of Versace
Versace was founded in 1978 by Gianni Versace, an Italian fashion designer. The brand quickly gained popularity for its bold designs and luxurious materials. Gianni’s sister, Donatella Versace, joined the company in 1989 as Vice President of Design and played a significant role in expanding its reach globally.
The Tragic Death of Gianni Versace
In 1997, tragedy struck when Gianni Versace was murdered outside his Miami Beach home. The fashion industry was shocked and saddened by his untimely death. However, his legacy continued with his family at the helm of the company.
The Acquisition by Capri Holdings
Fast forward to September 2018 when Capri Holdings Limited announced that it had acquired Versace for $2.12 billion. Capri Holdings is an American-based fashion holding company that also owns Michael Kors and Jimmy Choo.
The acquisition of Versace was a strategic move for Capri Holdings to expand its portfolio and enter into the luxury fashion market. The CEO of Capri Holdings, John D. Idol, said in a statement: “We are excited to have Versace as part of our family of luxury brands and are committed to investing in its growth.”
What Does This Mean for Versace?
With this acquisition, Versace now has access to more resources and capital to expand its global reach even further. It also means that there may be potential collaborations between Michael Kors or Jimmy Choo and Versace in the future.
Many fans were concerned that with this acquisition, the brand’s identity and designs may be compromised. However, Donatella Versace remains the Creative Director of the company, ensuring that the brand’s DNA remains intact.
In Conclusion
So, to answer the question – which company owns Versace? It is now part of Capri Holdings Limited, an American-based fashion holding company. However, the brand’s iconic designs and luxurious identity remain unchanged with Donatella Versace still at the helm as Creative Director.
Versace continues to be a dominating force in the luxury fashion industry and with this acquisition, we can expect even more growth and expansion in the future.