Versace is a renowned Italian luxury fashion house that was founded in 1978 by Gianni Versace. The brand is known for its high-end clothing, accessories, and fragrances.
However, after the death of Gianni Versace in 1997, there have been changes in the ownership structure of the company. In this article, we will take a closer look at who owns the majority of Versace today.
The Early Days of Versace
When Gianni Versace started his fashion house in 1978, he owned it entirely. He was the creative director and designer of all the collections that were launched under the brand name. However, as the company grew over the years, it became necessary for him to bring in outside investors to support its expansion.
The Acquisition by Capri Holdings
In 2018, Michael Kors Holdings changed its name to Capri Holdings and acquired Versace for $2.1 billion. As part of this acquisition, Capri Holdings took over 100% ownership of Versace. This move was aimed at expanding Capri Holdings’ portfolio beyond its namesake brand and Jimmy Choo.
The Stake of Donatella Versace
Donatella Versace is Gianni’s sister and has been an integral part of the company since its inception. She worked alongside her brother as a designer and played a key role in expanding the brand’s reach globally after his untimely death. Today, Donatella owns 20% of the company following its acquisition by Capri Holdings.
The Remaining Stakeholders
After Capri Holdings acquired Versace in 2018, they became the majority shareholder with 100% ownership. However, there are still some minority shareholders who have stakes in the company.
These include private equity firm Blackstone Group Inc., which previously held a 20% stake in Versace before its acquisition by Capri Holdings. Other minority shareholders include members of the Versace family and other investors who own a small percentage of the company.
Conclusion
In conclusion, after its acquisition by Capri Holdings, Versace is now owned entirely by them. Donatella Versace owns a 20% stake in the company, while other minority shareholders hold smaller stakes. It will be interesting to see how Capri Holdings continues to expand the brand and maintain its legacy as one of the world’s leading luxury fashion houses.