Versace, the luxury fashion brand, is owned by Capri Holdings Limited. Capri Holdings Limited, previously known as Michael Kors Holdings, is a multinational fashion holding company incorporated in the British Virgin Islands but based in New York City. The company acquired Versace in 2018 for approximately $2.12 billion. Capri Holdings also owns other high-end fashion brands such as Michael Kors and Jimmy Choo.
Who Are the Current Owners of Versace?
The fashion industry is one of the most dynamic industries in the world. It’s characterized by constant innovation, creativity, and fierce competition. Fashion houses are always looking for new ways to stay relevant and attract customers. For luxury fashion brands such as Versace, this means providing high-quality and unique designs that resonate with consumers.
Capri Holdings is a global fashion company that owns and manages several brands in the luxury fashion space. The company was established in 2018 following the acquisition of Versace for over $2 billion.
Versace is currently one of the most sought-after fashion brands in the world. It’s come a long way since it’s founding in Milan, Italy, in 197The brand has been synonymous with lavishness, glamour, and over-the-top designs. It’s been worn by some of the biggest celebrities in the world, including Lady Gaga, Beyoncé, and Jennifer Lopez.
Today, Versace is achieving record revenue figures. In 2022, it generated over a billion dollars in revenue, making it one of the most successful luxury brands in the world. This success is partly due to it’s expansion strategy and the ability to leverage the power of social media to reach a wider audience. Versace has been successful in penetrating new markets such as China, where it’s developed a large following.
It’s success can be traced back to the quality of it’s designs, it’s ability to innovate, and the expertise of it’s current owners, Capri Holdings. The future of Versace looks bright, and it’s expected to continue to dominate the luxury fashion space in the years to come. As Capri Holdings continues to expand it’s brand portfolio, Versace will undoubtedly continue to be the jewel in it’s crown.
The ownership of a brand remains a critical aspect in shaping it’s future. To that end, the Versace family still holds a pivotal position in the company despite Blackstone’s acquisition of 20 percent. With key members still involved in critical positions, the Versace brand is poised to continue it’s upward trajectory. However, it’s essential to assess how the recent change in ownership will influence the brand’s operational and strategic direction.
Who Owns Versace Brand Now?
In 2018, Blackstone, the private equity firm, acquired a 20 percent stake in Versace for approximately $215 million. This move came after Versace was purchased by the Capri Holdings Limited, formerly known as Michael Kors Holdings Limited, for $2.12 billion. The goal of these acquisitions was to expand the Versace brand globally and further strengthen it’s presence in the luxury fashion industry.
Despite Blackstones significant investment, the Versace family remains heavily involved in the companys operations. Ms. Allegra Versace Beck, the daughter of the late founder, Gianni Versace, holds a 50 percent stake in the company and serves as it’s Director. Ms. Donatella Versace, the sister of Gianni Versace, is the Chief Creative Officer and remains deeply involved in the design and marketing aspects of the brand. Mr. Santo Versace, the older brother of Gianni, is also active in the business and serves as it’s Chairman.
The Versace familys dedication to the brand is evident in the ongoing success of the company. Under the leadership of Ms. Donatella Versace, the brand has expanded it’s product lines, including it’s successful Versace Home collection, and has opened numerous flagship stores around the world. Versace continues to be recognized for it’s daring and luxurious designs, and celebrities and fashion icons alike continue to flock to the brand.
This partnership allows the brand to continue it’s success while also adapting to the evolving fashion industry.
The History of the Versace Brand and It’s Rise to Success in the Fashion Industry.
This article discusses the trajectory of the Versace brand from it’s humble beginnings to becoming one of the most iconic names in fashion. It explores the brand’s distinctive style and marketing strategies that contributed to it’s success and enduring popularity.
Now that we know Versace has been a privately owned company, it’s important to understand the implications of this ownership structure on the brand’s financials and public disclosures. Despite being a major player in the fashion industry for decades, Versace has kept information about it’s finances tightly under wraps. Let’s take a closer look at the brand’s ownership status and how it impacts it’s business operations.
Is Versace Still a Private Company?
Versace is one of the worlds leading fashion houses, known for it’s luxurious clothing, accessories, fragrances and home goods. Founded in 1978 by Gianni Versace, the brand quickly became synonymous with glamour and allure. Versace has always been famous for it’s high-end products and has been a household name for decades. However, one thing that many people may not know about Versace is that it’s a private company.
Being a private company means that Versace isn’t required to release it’s financials to the public. This makes it more difficult to assess the companys financial health, as there’s less information available compared to publicly-traded companies. Nevertheless, being a private company also allows Versace to maintain control over it’s operations and vision, without the pressure of having to meet the expectations of shareholders.
Despite being a private company, Versace has undergone a few changes in ownership over the years. In 1997, Gianni Versace was tragically murdered, leaving his sister Donatella Versace to take over as creative director. In 2018, Versace announced that it had been acquired by Michael Kors Holdings Ltd., and renamed itself Capri Holdings Limited. This acquisition was seen as a strategic move for Capri Holdings, which sought to expand it’s presence in the luxury market.
This means that information about it’s financials remains limited to those within the company, and those who may have access to confidential information. However, Versaces reputation as a luxury brand remains intact, and continues to be a favorite among fashion enthusiasts worldwide.
The acquisition of Versace by Michael Kors was a significant move in the luxury fashion market. There were various reasons why Michael Kors decided to acquire Versace, with boosting it’s credibility in the luxury market being a major one. The move was aimed at helping Michael Kors to expand it’s footprint in the highly competitive sector and strengthen it’s position as a leading player in the industry. In the following section, we delve deeper into the reasons behind the Versace acquisition and what it means for the luxury fashion landscape.
Why Was Versace Sold to Michael Kors?
The acquisition of Versace by Michael Kors was a strategic move aimed at boosting the credibility and reputation of Michael Kors in the luxury market. For quite some time, Michael Kors had been struggling to make a name for itself in the high-end fashion industry. The company had been synonymous with affordable luxury, and lacked the prestige, exclusivity, and glamour associated with top-tier brands like Gucci, Prada, and Louis Vuitton.
Furthermore, combining forces with Michael Kors would provide Versace with the much-needed resources to invest in research and development, marketing, and innovation. The fashion industry is highly competitive, and brands need to stay ahead of the curve to survive and thrive.
The History of Michael Kors and How It Grew to Become a Major Fashion Brand.
Michael Kors is a fashion brand that started in 1981 with the eponymous designer and has since grown to become one of the top fashion brands in the world. Michael Kors began his career designing clothes for women’s fashion at the age of 19. The brand initially started as a boutique located in New York, but with time, it grew to become a major fashion brand. The success of Michael Kors is attributed to the brand’s focus on luxury fashion, elegant designs, and affordable prices. Michael Kors products are popular all over the world, and the brand boasts a loyal customer base that includes influential celebrities.
Source: Versace acquisition: Michael Kors needed to boost … – IMD.org
Conclusion
It’s a reputation for producing high-quality products that are recognized and appreciated by fashion enthusiasts all over the world. Versace's commitment to Italian-made ready-to-wear and haute couture under it’s Atelier Versace brand further emphasizes the company's dedication to fashion excellence.
