Who Currently Owns Versace?

|

thedutchladydesigns

by

Gianni Versace, the Italian fashion designer founded Versace in 1978. Since then, the brand has become synonymous with luxury and glamour.

However, after Gianni Versace’s untimely death in 1997, the ownership of the company has changed hands a few times. In this article, we will take a closer look at who currently owns Versace.

Early Ownership of Versace

After Gianni’s death, his sister Donatella took over as creative director of the brand. However, Gianni had left 50% of the company to his niece Allegra Versace and the other half was split between his brother Santo and Donatella.

The Sale to Blackstone Group

In 2014, Blackstone Group bought a 20% stake in Versace for $205 million. The deal allowed the company to expand its retail presence in Asia and North America.

The Acquisition by Michael Kors

In September 2018, Michael Kors Holdings Limited announced that it had acquired all outstanding shares of Gianni Versace S.r.l for $2.12 billion. The acquisition made Michael Kors one of the world’s largest fashion conglomerates with a portfolio that includes Michael Kors, Jimmy Choo, and now Versace.

What Does This Mean for Versace?

The acquisition by Michael Kors has significant implications for Versace as a brand. For one thing, it means that Donatella will continue to serve as creative director of the brand while Santo will remain on board as chairman. Additionally, the acquisition will allow for greater investment in marketing and advertising efforts which could help to increase sales and expand the reach of the brand.

Controversy Surrounding the Acquisition

The acquisition was not without controversy though. Some industry experts have expressed concern that the acquisition could dilute the brand’s identity and lead to a loss of its unique Italian flair. Others have criticized Michael Kors for paying too much for the acquisition.

Conclusion

In conclusion, Versace is currently owned by Michael Kors Holdings Limited. While the acquisition has been met with some controversy, it remains to be seen how it will impact the future of Versace as a brand. One thing is for certain though – Versace will continue to be a leader in luxury fashion and an icon of Italian style and glamour.

7 Related Question Answers Found

Who Owns Versace Today?

Gianni Versace, the founder of the Italian luxury fashion house Versace, was tragically murdered in 1997. Since then, the brand has gone through several changes in ownership. Today, the company is owned by Capri Holdings Limited, a global fashion luxury group that also owns Michael Kors and Jimmy Choo.

Who Owns the Versace Company?

Versace is a fashion brand that has become synonymous with luxury, glamour, and high-end fashion. The brand was founded in 1978 by the late Gianni Versace, who quickly became one of the most influential designers of his time. However, after Gianni’s tragic death in 1997, the Versace company underwent a significant change in ownership.

Who Owns the Brand Versace?

If you are a fashion enthusiast, you must have heard of Versace. The brand is known for its bold designs, luxurious fabrics, and iconic prints. But have you ever wondered who owns the brand Versace?

Who Owns the Versace Empire?

If you’re a fashion enthusiast, you’ve probably heard of Versace, the Italian luxury fashion label that’s known for its bold designs and vibrant colors. But have you ever wondered who owns this iconic empire? The Versace Family The Versace family is the founder and current owner of the Versace brand.

Who Owns the Versace Label?

Have you ever wondered who owns the iconic Versace label? Well, wonder no more! In this article, we’ll explore the history of the brand and its ownership.

Who Owns Versace Brand?

Versace is a world-renowned luxury fashion brand that has been around for over four decades. Founded by the legendary designer Gianni Versace in 1978, the brand has become synonymous with high-end fashion and opulence. But who actually owns the Versace brand today?

Who Owns Versace Net Worth?

Versace is a world-renowned brand that has been a symbol of luxury and fashion for decades. The Italian fashion house was founded by Gianni Versace in 1978 and since then, it has become one of the most recognizable fashion brands in the world. However, after the tragic murder of Gianni Versace in 1997, the ownership of the company has been in question.