Versace is one of the most recognizable luxury fashion brands in the world. Founded in 1978 by Gianni Versace, the brand has become synonymous with glamour and opulence.
However, over the years, the ownership of Versace has changed hands multiple times. In this article, we will take a closer look at who owns Versace now.
The Early Years
Gianni Versace founded the eponymous brand in 1978 in Milan, Italy. He quickly gained recognition for his bold designs and innovative use of materials. His sister Donatella Versace joined the company in 1989 as Vice President of Design, and his brother Santo Versace became CEO.
The Sale to Capri Holdings
In 1997, Gianni Versace was tragically murdered outside his home in Miami Beach. The company continued under the leadership of Santo and Donatella, but financial struggles led them to sell a 20% stake in the company to Blackstone Group in 2014.
In September 2018, it was announced that Michael Kors Holdings had acquired all outstanding shares of Jimmy Choo for $1.2 billion. Later that same year, Michael Kors Holdings changed its name to Capri Holdings and announced plans to acquire Versace for $2.12 billion.
Capri Holdings Today
As of today, Capri Holdings owns both Michael Kors and Versace brands. While many were skeptical about how well the two brands would fit together, Capri Holdings has proven successful at maintaining each brand’s unique identity while still creating synergies between them.
In an interview with Women’s Wear Daily, John Idol—CEO of Capri Holdings—stated that he believes “there are no two brands more complementary” than Michael Kors and Versace.
Conclusion
In conclusion, Versace is now owned by Capri Holdings, which also owns Michael Kors. While some fans of the brand were initially hesitant about the acquisition, Capri Holdings has demonstrated that it can successfully manage both brands and create value for shareholders. Only time will tell what the future holds for Versace under its new ownership, but one thing is certain: the brand’s legacy of glamour and luxury will continue to endure.
9 Related Question Answers Found
Versace is a world-renowned Italian fashion house that has been synonymous with luxury and glamour for over four decades. The brand was founded in 1978 by Gianni Versace, who built it into a global empire with his innovative designs and bold use of color and print. However, after Gianni’s tragic death in 1997, the question on everyone’s mind was – who would take over the reins of Versace?
In 1997, the fashion industry was shocked by the murder of Gianni Versace, the founder and creative director of luxury fashion house Versace. The Italian designer was shot dead outside his Miami Beach mansion by Andrew Cunanan, a serial killer who took his own life eight days later. After Gianni’s death, his sister Donatella Versace became the new creative director of the fashion house.
Gianni Versace, the founder of the iconic fashion brand, passed away in 1997 leaving behind a legacy that continues to inspire the fashion industry today. With his sudden death, there was a question that arose about who would inherit his fortune and continue his legacy. Let’s take a closer look at who inherits Versace.
If you’re a fan of the luxury fashion brand, Versace, you may be wondering who is currently at the helm of the company. Well, wonder no more! Let’s take a closer look at who now runs Versace.
Gianni Versace was a renowned Italian fashion designer who founded the luxury fashion house, Versace. He was known for his bold and colorful designs that were loved by celebrities and fashion enthusiasts alike. The story of his life, his work, and his tragic death has now been brought to life in the American Crime Story anthology series.
When it comes to the world of high-end fashion, few brands are as iconic as Versace. Known for their bold designs, opulent fabrics, and glamorous aesthetic, Versace has become a symbol of luxury and sophistication. But have you ever wondered who makes Versace?
Versace is a luxury fashion brand that has been around for over 40 years. Founded by Gianni Versace in 1978, the brand quickly became known for its bold and opulent designs. However, following Gianni’s tragic death in 1997, the question of who would run Versace became a pressing concern.
Versace is one of the most iconic and recognizable fashion brands in the world. But, who owns Versace now? In this article, we will explore the history of the brand and its current ownership.
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.
