Who owns most of Versace?
You might be surprised to learn that the Versace family no longer owns the iconic Italian fashion house. Michael Kors, now known as Capri Holdings, purchased Versace in 2018 for a whopping $2 billion. This acquisition marked a significant shift for the brand and its legacy.
Before the sale, the Versace family had been at the helm of the fashion house for decades, building it into a global powerhouse. Donatella Versace, the current Chief Creative Officer, joined the company in the early 1980s, and after the tragic death of her brother Gianni Versace, she took on the mantle of creative director. Under her leadership, Versace has continued to thrive, creating innovative collections that remain true to the brand’s bold and glamorous aesthetic.
So, why did the Versace family decide to sell? It’s likely a combination of factors, including a desire to explore new avenues and potentially a need to secure the brand’s future in an ever-changing fashion landscape. After all, the fashion industry is constantly evolving, and maintaining a leading position requires significant financial resources and strategic partnerships.
The sale to Capri Holdings signaled a new era for Versace, merging it with other luxury brands like Jimmy Choo under a single umbrella. This move allowed for greater operational efficiency and access to a wider customer base.
While the Versace family may no longer hold the reins of the company, their legacy lives on in the brand’s DNA. Donatella Versace continues to lead the creative vision, ensuring that the brand’s core values of luxury, glamour, and Italian craftsmanship remain at the forefront. The future of Versace is certainly bright, with Capri Holdings at the helm, and Donatella Versace’s creative vision guiding the way.
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