Introduction:
In a major development in the luxury fashion industry, the iconic Italian fashion house Versace has been acquired by the luxury goods group Tapestry in a deal worth a staggering $8.5 billion. This acquisition comes as part of Tapestry's takeover of Capri Holdings, the parent company of Versace, Michael Kors, and Jimmy Choo. The acquisition marks a significant shift in the ownership landscape of Versace and raises questions about the future direction of the brand under its new ownership.
Who Owns Versace Company:
The ownership structure of Versace has been subject to various changes over the years, reflecting the dynamic nature of the fashion industry. Founded in 1978 by the legendary designer Gianni Versace, the company initially operated as a family-owned business. Following Gianni Versace's tragic death in 1997, his sister Donatella Versace took over the creative reins of the brand, while his brother Santo Versace oversaw the business operations.
In 2018, the American fashion group Michael Kors Holdings Limited acquired Versace for approximately $2.1 billion. This acquisition brought Versace under the umbrella of Capri Holdings, a newly formed luxury fashion conglomerate. Capri Holdings was created with the vision of building a global fashion powerhouse by leveraging the strengths of its three iconic brands - Michael Kors, Jimmy Choo, and Versace.
Who Owns Versace Company Now:
The recent acquisition of Capri Holdings by Tapestry has brought Versace under the ownership of Tapestry, a luxury goods group known for its portfolio of high-end brands. Tapestry's acquisition of Capri Holdings, including Versace, signals its strategic intent to expand its presence in the luxury fashion market and capitalize on the global appeal of these renowned brands.
Under Tapestry's ownership, Versace is expected to benefit from the group's resources, expertise, and global reach. The acquisition also opens up new opportunities for synergies and collaborations among the various brands within Tapestry's portfolio, potentially leading to enhanced brand positioning and growth prospects for Versace.
Who Runs Versace Today:
Donatella Versace, the sister of the late Gianni Versace, has been at the helm of Versace's creative direction since the 1990s. Known for her bold and innovative designs, Donatella has played a pivotal role in shaping the brand's aesthetic and maintaining its reputation as a symbol of luxury and glamour. As the Chief Creative Officer of Versace, Donatella continues to drive the brand's creative vision and uphold its legacy of boldness and sophistication.
In terms of the business operations of Versace, Santo Versace, the brother of Gianni and Donatella, has been actively involved in overseeing the company's management and strategic initiatives. Santo's expertise in the business side of fashion has been instrumental in steering Versace through various challenges and opportunities in the ever-evolving fashion landscape.
Who Owns Versace Mansion:
The Versace Mansion, also known as Casa Casuarina, is a historic property located in Miami Beach, Florida. Originally built in 1930, the mansion gained global fame when Gianni Versace purchased it in 1992 and transformed it into a lavish and opulent residence. Following Versace's tragic death in front of the mansion in 1997, the property changed hands several times before being converted into a luxury boutique hotel in 2015.
Today, the Versace Mansion is owned and operated by the Nakash family, who acquired the property for $41.5 million in 2013. The mansion, with its distinctive Mediterranean Revival architecture and ornate interiors, continues to attract visitors and guests from around the world who are drawn to its storied history and luxurious amenities.
Who Owns Versace Now:
With Tapestry's acquisition of Capri Holdings, including Versace, Tapestry now owns the iconic Italian fashion house. The addition of Versace to Tapestry's portfolio further strengthens the group's position in the luxury fashion market and expands its offerings to a wider range of consumers globally.
As part of Tapestry, Versace will benefit from the group's financial stability, operational expertise, and strategic guidance. The acquisition also provides Versace with access to Tapestry's extensive distribution network, marketing resources, and digital capabilities, which are crucial for driving growth and adapting to the changing dynamics of the fashion industry.
Which Brands Does Versace Own:
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