On 24 September 2018, Michael Kors announced that it offered a deal to buy Versace for two billion euros. In September 2018 Versace announced that all Blackstone and Versace family shares had been sold to the Group Michael Kors Limited.
Upon Gianni's death in 1997, she inherited a portion of the Versace brand and became its creative director. She is currently the brand's chief creative officer.
In 2018, Michael Kors Holding Group, now known as Capri Holdings, acquired the Versace fashion house for more than $2 billion.
Inheritance of Versace
Allegra's uncle Santo Versace already owned 30% of the fashion empire, and her mother already owned 20%, but due to a long-standing disagreement between the two, the remaining 50% of the Versace empire was bequeathed by Gianni to Allegra.
In his will, Versace left 50% of his fashion empire to his niece, Allegra Versace. She and her younger brother, Daniel, inherited Versace's rare artwork collection. Allegra inherited her stake, worth approximately $500 million, when she turned 18 in 2004.
Allegra Versace is an Italian fashion heiress who has a net worth of $900 million. She is the niece of legendary fashion designer Gianni Versace. Her mother is Donatella Versace (Gianni's sister) and her father is a former fashion model named Paul Beck.
Gianni Versace was responsible for designing the Versace Logo. It was in 1993 when he came up with the idea of having the Medusa's head as the main focus of the logo. While the Versace brand started in 1978, Gianni did not release a logo for the company until 1980, at the time only featuring the name Gianni Versace.
“We believe that the strength of the Michael Kors and Jimmy Choo brands, and the acquisition of Versace, position us to deliver multiple years of revenue and earnings growth.” The company said it would increase the number of Versace shops from 200 to 300, and would increase the share of revenue raised from accessories ...
Michael Kors to buy Versace for $2.1 billion and change its name to Capri Holdings. The handbag maker is acquiring Gianni Versace for $2.1 billion, including debt, providing Kors an entry into the exclusive high-end European luxury market.
Versace's will left D'Amico with a pension of 50 million lira a month for life, and the right to live in any of Versace's homes in Italy and the United States.
Fashion company Michael Kors is buying Versace, the Italian luxury brand founded by Gianni Versace in 1978, for $2.12 billion. The two fashion houses made the announcement Tuesday, one day after speculation spread about a potential deal.
But in 2022, Versace's status as an aspirational, celebrity-focused brand has taken on new meaning. It's also become a popular label to shop at resale; young people looking for a bit of fashion escapism are snapping up fabulously Baroque, ostentatious homages to more glamorous days gone by.
In July 2017, it was announced that the company would be bought by Michael Kors Holdings in a deal worth £896m. The transaction was completed on 1 November 2017.
As part of the deal between Michael Kors Holdings and the famed Italian luxury brand, the Versace family shall receive €150 million of the purchase price in shares of Capri Holdings Limited.
On 25 September 2018, American Michael Kors Holdings acquired all outstanding shares in Gianni Versace S.r.l. for $2.12 billion (USD); the acquisition was completed on 31 December 2018, keeping on Donatella Versace as head of creative design.
Michael Kors Holdings acquired Jimmy Choo last year, setting itself apart from other fashion conglomerates that tend to grow in scale and revenue strictly via licenses, diffusion lines, and the acquisition of more mass-market labels.
Gianni Versace reportedly chose the Medusa head logo after remembering seeing it in ancient ruins he and his siblings played in as children. Gianni pulled this image from his childhood memory, like the myth, unable to look away from Medusa for too long.
Every Versace bag comes with an authenticity code on its label or hang-tag. You can check this code on the Certilogo website to verify that it's genuine. Most sellers will also give you a written guarantee with your bag to prove that it's real. Versace bags are luxury products made with high-quality materials.
The difference between Versace & Versus
The biggest difference is mainly the price: Versus watches are a lot cheaper to purchase compared to the Versace timepieces.
1. GIORGIO ARMANI. Giorgio Armani is currently the richest fashion designer in the world. The Italian Fashion Designer and entrepreneur is the founder of the Armani Company, which started as a boutique in 1965 named Arma.
When it comes to preferences and a general feel about the brand, both Versace and Gucci have a similar score. Online surveys show that Versace was slightly more appreciated than Gucci, but not by much. When it comes to negative comments, Gucci received slightly more criticism in comparison with Versace.