Versace is one of the most famous and influential fashion brands in the world. Founded by Gianni Versace in 1978, the company has become synonymous with luxury, glamour, and innovation. However, since Gianni’s tragic death in 1997, there have been questions about who controls Versace and how its future will be shaped.
The History of Versace
Gianni Versace was born in Italy in 1946 and grew up working in his mother’s dressmaking shop. He became interested in fashion at an early age and moved to Milan to pursue his dreams.
In 1978, he founded Versace with his brother Santo and sister Donatella. The brand quickly gained a reputation for its bold designs, innovative use of materials, and celebrity endorsements.
Over the years, Versace expanded into many different areas of fashion and lifestyle products. They launched their first perfume in 1981 and debuted their first home collection in 1992. The brand continued to grow throughout the 1990s, with Gianni becoming a fixture on the international fashion scene.
However, tragedy struck on July 15th, 1997 when Gianni was shot dead outside his Miami Beach mansion by Andrew Cunanan. His death shocked the world and left a void at the heart of Versace.
Who Controls Versace Today?
After Gianni’s death, control of Versace passed to his siblings Santo and Donatella. Santo took over as CEO of the company while Donatella became its creative director. Together they worked to ensure that Versace remained true to its founder’s vision while also adapting to changing trends.
In recent years, there have been rumors about changes at the top of Versace. In 2018 it was announced that Michael Kors Holdings had acquired the company for $2.1 billion dollars. Many wondered what this would mean for the brand and its future direction.
However, it was later revealed that Donatella Versace would retain her position as creative director and that Santo would remain on the board of directors. The family still holds a significant stake in the company, and both Donatella and Santo have made it clear that they are committed to preserving the legacy of their brother.
The Future of Versace
Despite the changes in ownership, Versace remains a powerhouse in the fashion industry. Its bold designs and luxurious materials continue to attract a devoted following among celebrities, influencers, and fashion lovers around the world.
Under Donatella’s leadership, Versace has continued to innovate and expand into new areas. In 2019, they launched a collaboration with the streetwear brand Kith, which was met with great success. They also debuted their first-ever co-ed runway show during Milan Fashion Week.
Looking ahead, it seems likely that Versace will continue to evolve while staying true to its roots. Whether they maintain their independence or become part of a larger conglomerate like Michael Kors Holdings remains to be seen. However, one thing is certain: Versace’s influence on fashion will continue for many years to come.
Conclusion:
In conclusion, Versace is one of the most iconic fashion brands in history. Despite the tragic loss of its founder Gianni in 1997, it has remained at the forefront of style and luxury under the guidance of his siblings Santo and Donatella. With its recent acquisition by Michael Kors Holdings and ongoing collaborations with other designers and brands, Versace looks set to continue pushing boundaries and inspiring new generations of fashion lovers around the world.