The iconic Versace House is a symbol of luxury, fashion, and opulence. It is a place where extravagance meets sophistication, and where the elite comes to indulge in the finer things in life. But who really owns the Versace House?
The Early Days
The Versace House was originally owned by Gianni Versace, the legendary Italian fashion designer who founded the company in 1978. Gianni Versace was known for his bold designs, vibrant colors, and flashy prints that captured the attention of fashion enthusiasts around the world.
In 1997, tragedy struck when Gianni Versace was shot dead outside his Miami Beach mansion by serial killer Andrew Cunanan. The death of Gianni Versace sent shockwaves through the fashion industry and left a void in the world of design.
The New Owners
After Gianni’s death, his sister Donatella took over as creative director of the company. She continued to build on her brother’s legacy and expand the brand into new markets around the world.
In 2000, Donatella sold a 20% stake in the company to an investment group called Blackstone. This move helped to secure funding for future growth and allowed Versace to remain competitive in an increasingly crowded market.
Today, Donatella still serves as creative director of Versace while her daughter Allegra inherited a 50% stake in her uncle’s company after his death. The remaining 30% is owned by Santo Versace, Gianni’s older brother.
The Future
Despite facing challenges over the years including financial struggles and changing consumer tastes, Versace has remained one of the most recognizable luxury brands in the world.
In September 2018, it was announced that Michael Kors Holdings Ltd would acquire Versace for $2.1 billion dollars. The move was seen as a major shift for both companies, with Michael Kors looking to expand its presence in the luxury market and Versace seeking to secure its future in an increasingly competitive industry.
In Conclusion
While the ownership of the Versace House has changed hands over the years, its legacy as a symbol of luxury and fashion has remained intact. From Gianni Versace’s bold designs to Donatella’s continued innovation, Versace has cemented its place in fashion history and continues to inspire designers around the world.