Versace is a name synonymous with luxury and high fashion. The Italian fashion house has been a prominent player in the industry for over four decades, known for its bold designs and iconic prints.
But do you know who owns the fashion house Versace? Let’s take a closer look.
History of Versace
Versace was founded in 1978 by Gianni Versace, an Italian fashion designer. The brand quickly gained popularity, thanks to its bold and unconventional designs. Versace became known for its use of bright colors, bold prints, and daring cuts.
In 1997, tragedy struck when Gianni Versace was murdered outside his Miami Beach home. His sister Donatella Versace took over as creative director of the brand, continuing to uphold the company’s reputation for bold designs.
Acquisition by Capri Holdings
In September 2018, it was announced that Michael Kors Holdings Limited (now known as Capri Holdings) would acquire Versace for $2.12 billion USD. The acquisition was completed in December of that year.
Capri Holdings is an American fashion holding company that also owns luxury brands such as Michael Kors and Jimmy Choo. The acquisition of Versace was seen as a strategic move to expand Capri Holding’s presence in the high-end luxury market.
Donatella Versace’s Role Today
Following the acquisition by Capri Holdings, Donatella Versace remains involved with the brand as creative director. In fact, she stated that she would not have agreed to the sale if she did not believe that Capri Holdings would be able to help grow the brand while still maintaining its identity and heritage.
Under Donatella’s leadership, Versace has continued to innovate with new collections and collaborations with other luxury brands such as H&M and Supreme.
Conclusion
In conclusion, Versace is now owned by Capri Holdings, an American fashion holding company. However, Donatella Versace remains involved with the brand as creative director, ensuring that the company’s bold and unconventional designs continue to thrive in the high-end luxury market.