Headlines

Versace Will Expand Retail Network

Fashion brand committing funds while it explores its future

Published

11 years ago

June 26, 2013

steve kaufman

Gianni Versace SpA (Milan) has announced it will be investing more than $30 million in its business, most of it aimed at boosting its retail network

According to Women’s Wear Daily, Versace co-ceo Gian Giacomo Ferraris said the fashion brand is evaluating its growth opportunities, eight months after tapping Goldman Sachs and Banca IMI to explore its future.

“At the end of the year-long mandate we will see whether we will further develop the company on our own, through an initial public listing or with a partner,” Ferraris said. “In any case, the Versace family will not relinquish control.”

Santo and Donatella Versace, brother and sister of Gianni Versace, who was murdered in Florida in 1997, own 30 and 20 percent of the company, respectively. Allegra Versace Beck, Donatella’s daughter, owns the remaining 50 percent. Santo acts as co-ceo and Donatella is artistic director.

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