Who Did Versace Sell?

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In the fashion world, Versace is a name that needs no introduction. Founded in 1978 by Gianni Versace, the luxury brand has become synonymous with high-end fashion and glamour.

However, in recent years, the brand has undergone some major changes, including a change in ownership. So, who did Versace sell to? Let’s take a look.

Gianni Versace: The Founder

Before we dive into the details of the sale of Versace, let’s take a moment to talk about the man behind the brand – Gianni Versace. Born in Italy in 1946, Gianni had a passion for fashion from an early age. He went on to study architecture but soon realized that his true calling was in fashion design.

In 1978, Gianni founded Versace and quickly gained popularity for his bold designs that incorporated bright colors and flashy prints. He became known for dressing some of the biggest names in Hollywood and even designed costumes for iconic music videos like Michael Jackson’s “Bad.”

The Sale of Versace

Fast forward to 2018, and Versace was still going strong under the leadership of Gianni’s sister Donatella. However, that year brought some major changes for the brand when it was announced that it had been sold.

In September 2018, it was announced that Michael Kors Holdings had purchased Versace for $2.1 billion. This came as a surprise to many in the fashion industry as Michael Kors was not necessarily seen as a direct competitor to Versace.

Why Did They Sell?

So why did Donatella decide to sell the family business? There are a few factors at play here. For one thing, luxury brands have been struggling in recent years due to changing consumer trends and increased competition from fast fashion retailers.

Additionally, Donatella was reportedly feeling the strain of running the business on her own following the death of her brother Gianni in 1997. By selling to Michael Kors, she was able to not only ensure the future of the brand but also take a step back from the day-to-day operations.

What Does This Mean for Versace?

So, now that we know who Versace sold to and why, what does this mean for the brand? Well, for one thing, it means that there will likely be some changes in store.

Michael Kors Holdings has stated that it plans to expand Versace’s presence in Asia and increase its revenue from accessories and footwear. Additionally, there may be some changes to the design aesthetic of Versace as Michael Kors is known for more classic and understated designs.

However, Donatella has remained on as creative director of Versace, so fans can rest assured that the brand’s signature bold style will still be present.

The Bottom Line

In conclusion, Versace may no longer be a family-owned business, but it is still going strong under its new ownership. The sale to Michael Kors Holdings was a strategic move that will likely help to secure the future of the brand. While there may be some changes in store, fans can look forward to seeing more of their favorite bold designs from Donatella and her team.

9 Related Question Answers Found

Who Bought Versace?

If you’re a fashion enthusiast, then you might have heard of the news that Versace has been bought by a new owner. But, who bought Versace? Let’s dive into the details.

Who Bought Out Versace?

If you’re a fashion enthusiast, then you must have heard about the iconic fashion brand Versace. The brand is known for its bold and luxurious designs that are popular among celebrities and fashion enthusiasts across the globe. However, in recent years, there has been a lot of buzz around who bought out Versace.

Who Did Versace Leave His Company To?

Gianni Versace, the renowned Italian fashion designer, was one of the most influential figures in the fashion industry. He founded the luxury fashion brand Versace in 1978, which became a global sensation with its bold and distinctive designs. However, on July 15, 1997, Gianni Versace was tragically assassinated outside his Miami Beach mansion at the age of 50.

Who Actually Buys Versace?

Versace is one of the most iconic fashion brands in the world. Since its inception in 1978, the brand has been synonymous with luxury and opulence. However, have you ever wondered who actually buys Versace?

Who Did Versace Design For?

Gianni Versace is a name that has been synonymous with luxury fashion for decades. The Italian designer was known for his glamorous and opulent creations that graced the bodies of some of the world’s most famous celebrities. But who exactly did Versace design for?

Who Invented Versace?

Gianni Versace is a name that is synonymous with luxury and high fashion. The Italian designer founded the fashion empire, Versace, which is known for its bold designs, bright colors, and the iconic Medusa logo. But who exactly was the visionary behind the brand?

Who Produced Versace?

Gianni Versace, an Italian fashion designer, founded the Versace brand in 1978. The company quickly gained popularity and became a global symbol of luxury and glamour. However, after Gianni’s untimely death in 1997, the question arose – who produced Versace?

Who Did Versace Dress?

Versace is a high-end fashion brand that has dressed numerous celebrities over the years. From musicians to actors and socialites, Versace’s designs have graced some of the most significant events in pop culture history. The brand is known for its luxurious fabrics, bold prints, and daring designs that have become synonymous with the Versace name.

Who Makes Versace Jewelry?

When it comes to luxury jewelry, Versace is a name that needs no introduction. The Italian fashion house is famous for its iconic designs and exquisite craftsmanship. But have you ever wondered who makes Versace jewelry?