The Italian fashion house, Versace will be sold at the fashion group Michael Kors for 1.83 billion euros. The luxury brand, Versace is one of the few in Italy, which was still owned by the founding family.
Creations by Gianni Versace, issued in Berlin’s crown Prince Palace in January 2018.
The fashion house was founded in 1978 by Gianni Versace, who was murdered 21 years ago. His family controlled least 80 percent of the company, 20 percent came from the sister and chief designer, Donatella, 30 percent on brother, Santo. Donatella, her daughter Allegra and Santo should remain after the sale of Versace on Board.
Although, luxury designer fashion, driven by a Boom in Asia, and enjoys great popularity, did Versace in the past few years. The economic crisis triggered a drop in Consumer spending had made the company to create. After the worldwide job cuts and austerity measures, the situation improved but recently. In the past year, the Milan fashion house returned to black and recorded a revenue of 686 million euros, a profit of 15 million euros.
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With no other male model, Gianni Versace worked so intensively together with Marcus Schenkenberg. DW spoke with the Star Model on the fashion business in the 90s, revealing photo shoots and the future of Versace. (30.01.2018)
But now the fashion group Michael Kors from the United States swallows the Milan based company. There is a agreement had been signed, according to the U.S. company to acquire all of the outstanding shares of the luxury fashion house, for a total value of 1.83 billion euros, informed the company on Tuesday. The financial investor Blackstone, which was started in 2014 with 20 per cent in the case of Versace, will make his shares fully.
No euphoria in the investors
The Versace family, which holds an 80% stake in Versace through a Holding company called Givi, get 150 million euros of the purchase price in shares of Michael Kors. The transaction is expected to go in the fourth quarter over the stage, and is subject to regulatory approval.
Reuters had already experienced on Monday by insiders, that the two fashion houses want to go together. The investors were of the takeover plans, but little enthusiasm: The title of the US-based company fell in the premarket US business to a percent.
The “Motivating Moment”
Michael Kors CEO John D. Idol said: “The Acquisition is an important milestone for our group.” For more than 40 years ago, Versace is the epitome of Italian fashion-luxury. “We are delighted to have Versace as part of our family of luxury brands, and we are committed to invest in its growth.”
Versace head designer Donatella Versace spoke of a “motivational Moment”. She was “proud” that Versace will stay this way a strong brand. Versace was founded by the brothers Gianni and Santo, Donatella is the sister of the two. The Label is one of the most well-known luxury brands.
Michael Kors is defined as a precious provider plays with its handbags and accessories, but at a price much lower League. The group was founded in 1981 by the eponymous American fashion designer Michael Kors and is listed on the New York stock exchange, has its registered office but in the meantime, in London. The company expands strongly and was only in 2017 of around 1.2 billion dollars for the luxury Shoe brand Jimmy Choo.
Michelle Obama goes Versace
Michael Kors is trying with acquisitions to make the big conglomerates such as LVMH or the Gucci and Balenciaga – parent Kering competition. They had thrown according to U.S. media also keep an eye on Versace. In the past fiscal year, Michael Kors has made a turnover of 4.7 billion dollars.
In the US, Michael Kors is a reputable brand and has Fans as the former First Lady Michelle Obama and Actresses Nicole Kidman and Catherine Zeta-Jones.
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Great Versace retrospective in BerlinSchenkenberg – the favorite model
Almost every Designer has one. The speech of the Muse. However, Marcus Schenkenberg does not want to think of it that way – even if he was in the 1990’s, Gianni Versace’s favorite male model. At the opening of the Gianni Versace retrospective of the Supermodel came now to Berlin. In our gallery, we will give you a small taste of what awaits the visitors there.
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Great Versace retrospective in BerlinBright colors and strong contrasts
While he created in the 1980s, a comparatively restrained-elegant fashion, went to Versace in the 1990s, new ways. Like no other he brought color into his collections. Even before the unconventional color contrasts, as seen here in the photo, did not shy away from it. Versace’s bold use of color was his trademark.
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Great Versace retrospective in BerlinNew Look in men’s fashion
Versace also stands for the liberation of men’s fashion. In the early 1990s, he began with the creation of his famous Miami-shirts, which are also to be seen in Berlin’s kronprinzenpalais. While the men’s fashion-oriented, before Versace, more muted color tones, the Italians, the colors literally explode.
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Great Versace retrospective in BerlinDresses for celebrities friends
With Lady Diana, Gianni Versace was a good friend. Unforgettable is the image of the service, for Versace, is to sit on the Diana, and Elton John with equally shattering face next to each other and to their murdered friend grieve. Diana created some of his most beautiful creations, including this simple, easy-to-sparkling red carrier Versace dress.
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Great Versace retrospective in BerlinElegant Cloths
Gianni Versace is known not only for his clothes, but also for its accessories. In particular, his cloth creations are famous and sought after. As in his other creations, reflected in you, the glamorous and at the same time, colourful style of the Italian Fashion designer.
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Great Versace retrospective in BerlinExpressive Jewelry
As a virtuoso Gianni was Versace when it came to jewelry. From the Vintage pin on the Medusa necklace to the braided leather bracelet many of his creations have become classics. This necklace is particularly idiosyncratic. Who wears it, a distinctive Statement.
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Great Versace retrospective in BerlinA wedding suit for Sting
It is no secret that Gianni Versace worked for the Rich and Beautiful. With many of them he was a friend and personally. In 1992, he created Sting about the tails for the wedding of his friend. The Material and the shape of the ensemble with a black-and-white striped vest to show with what freedom the topic of men’s fashion Versace, re-defined.
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Great Versace retrospective in BerlinInspiration from a subculture
Also with his creations for women managed to Versace, to surprise the fashion world again and again. In the autumn of 1992 he brought out a Bondage collection. In an unprecedented manner, he brought to the topics of fetish and sexuality in the fashion. A lot of leather, metal applications, necklaces and bracelets formed a strong Statement. Wore this dress Supermodel Naomi Campbell.
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Great Versace retrospective in BerlinA watch for Elton John
In his fashion, the Designer broke the look with an old rule: Instead of to him unknown, financially strong buyers, he placed his Celebrity friends in the first row of his Shows. Including Madonna, Sting and Elton John, for which he also created some of the costumes from her concert tours. John created Gianni Versace with this watch, but also a very personal item.
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Great Versace retrospective in BerlinThe fashion guru and his top models
A familiar picture: Gianni Versace with the supermodels Linda Evangelista (l) and Naomi Campbell (second from left) in 1992 in Italy. Not for nothing he is considered the founder of the Supermodel Era. 20. Death invited his sister the supermodels of the 1990s to a great Show in Milan. Claudia Schiffer, Cindy Crawford, Carla Bruni, Helena Christensen, or Naomi Campbell – they all came.
Versace + Kors = Capri
Versace should grow to a turnover of more than two billion dollars. “We are convinced that the strength of the brands Michael Kors and Jimmy Choo, as well as the Acquisition of Versace enable us to reach a multi – year revenue and profit growth.”
Michael Kors also said, the US fashion group, will be renamed the Capri Holdings. The Italian cult brand is to be worn with the naming of the island of Capri, which stands for extravagance and luxury.
dk/bea (dpa, rtr, afp)