Versace to decide on stake sale?

Milan, June 25 (IANS) Designer Gianni Versace, who launched the Italian fashion brand Versace in 1978, will reportedly sell its small business stake by October or November.

Jun 25 2013, 4:12am CDT | by

Versace to decide on stake sale?
Photo Credit: GABRIEL BOUYS, Getty Images

Milan, June 25 — Designer Gianni Versace, who launched the Italian fashion brand Versace in 1978, will reportedly sell its small business stake by October or November.

The company is owned by the famed Versace family, led by artistic director Donatella Versace, who has a 20 percent stake in the company. Her brother, Santo owns 30 percent and is CEO of the brand. Her daughter Allegra owns 50 percent of the company.

"We are still looking at the numbers. To produce more, you need more working capital," femalefirst.co.uk quoted Gian Giacomo Ferraris, co-CEO as saying.

According to the reports, it's not yet known whether the sale would be private or public and the fashion house has yet to make contact with any potential buyers.

It was recently reported that Qatar Holdings, who own London department store, Harrods, were "looking carefully" at investing in the company.

However, should a sale occur, the Versace family will still control the business aspect of the brand.

Versace fans include singer Lady Gaga, actress-and-singer Jennifer Lopez and actress Kate Hudson.

IANS

Source: IANS

 
 
 

<a href="/latest_stories/all/all/8" rel="author">Luigi Lugmayr</a>
Luigi is the founding Chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.

 

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