Are you curious about the owner of the iconic fashion brand, Versace? Let’s delve into the history and ownership of this luxury fashion brand.
History of Versace
Versace was founded in 1978 by the late Gianni Versace, an Italian fashion designer. The brand quickly gained popularity due to its bold and innovative designs.
Gianni was known for his use of bright colors, daring cuts, and sensual fabrics. He created clothing that was glamorous and daring, attracting a celebrity clientele that included Princess Diana, Madonna, and Elton John.
After Gianni’s tragic death in 1997, his sister Donatella Versace took over as the creative director of the company. She continued to uphold her brother’s legacy by creating pieces that were bold and provocative. Under her leadership, Versace expanded into new markets such as home decor, fragrances, and accessories.
Ownership of Versace
In September 2018, it was announced that the global fashion giant Michael Kors Holdings Limited had acquired all outstanding shares in Gianni Versace S.p.A., the parent company of the iconic fashion brand. The deal was worth approximately $2.12 billion.
Following this acquisition, Michael Kors Holdings Limited changed its name to Capri Holdings Limited to reflect its new portfolio of luxury brands. Capri Holdings Limited is now home to three iconic brands: Michael Kors, Jimmy Choo, and of course, Versace.
The Current Owner
As of today, Capri Holdings Limited is the proud owner of Versace. However, Donatella Versace still holds a significant role within the company as its chief creative officer. She continues to oversee all aspects related to design and creativity for the brand.
In conclusion, while it may be true that ownership has changed hands over time; Versace still remains one of the leading luxury fashion brands in the world. From its bold designs to its iconic Medusa logo, Versace continues to capture the hearts and minds of fashion lovers worldwide.