Gianni Versace, the renowned Italian fashion designer, founded the iconic Versace brand in 1978. Since then, the brand has become synonymous with luxury and elegance, with its recognizable Medusa head logo gracing everything from clothing to accessories.
However, following Gianni Versace’s tragic death in 1997, ownership of the brand has undergone several changes. Let’s take a closer look at who currently owns the Versace brand now.
The Early Years
When Gianni Versace launched his eponymous fashion house in 1978, he retained complete ownership of the brand. He poured his heart and soul into building it up into one of the most recognizable names in fashion, known for its bold prints, bright colors, and daring designs.
The Sale to Donatella Versace
After Gianni’s death in 1997, ownership of the company passed to his sister Donatella Versace. As creative director of the brand since its inception, Donatella was a natural choice to take over as CEO.
Under Donatella’s leadership, Versace continued to thrive and expand globally. In 2018 she sold her portion of shares (20%) for $177 million to Michael Kors Holdings Ltd., now Capri Holdings Ltd.
Acquisition by Capri Holdings Ltd.
In September 2018, Capri Holdings Ltd., formerly known as Michael Kors Holdings Ltd., acquired the Versace brand for $2.12 billion. The acquisition was no small feat for Capri Holdings Ltd., which also owns luxury brands such as Michael Kors and Jimmy Choo.
With this acquisition, Capri Holdings became one of the world’s leading luxury fashion groups and gained access to a new customer base through Versace’s loyal fan base.
The Future
Under Capri Holdings’ direction, it is expected that Versace will continue to grow and expand globally, while staying true to its roots of luxury and sophistication. Donatella Versace will remain as the creative director of the brand, ensuring that the iconic Medusa head logo continues to represent the epitome of Italian fashion.
In conclusion, although ownership of the Versace brand has changed hands over the years, its legacy remains as strong as ever. With Capri Holdings Ltd. at the helm, we can expect great things from this iconic fashion house for years to come.