Versace Sell Up

Discussion in 'Designers and Collections' started by mdankwah, Jun 25, 2004.

  1. mdankwah

    mdankwah New Member

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    HAS Versace found a buyer? The Italian fashion house, which is the subject of much speculation ahead of Allegra's 18th birthday next Wednesday, has apparently been contacted by the Istithmar fund about buying a minority stake. Versace admitted earlier this year that it was looking for a financial partner and, with Gianni's niece due to inherit 50 per cent of the business next week, the fashion world has been on tenterhooks to see what will happen next. It seems that this Dubai, United Arab Emirates-based investor group, which has a bank balance in the region of $2 billion, has big plans, however. "A brand like Versace is the dream of any sheik," Matteo Corsini, the Italian partner of Istithmar, told Women's Wear Daily. "I think Versace is the best brand in Italy. New money is a good combination with the Versace brand." While CVC Partners, Cerebus and Apax Partners, all of which were expected to show an interest in the house, have failed to come up with any offers, Versace itself is refusing to comment on any rumours. "The company has received great interest from many parties," it said. "All inquiries have been forwarded to our advisers Credit Suisse First Boston and Lazard."


    Do you think Versace should sell up or should Allegra take over from her mother in a bid to save the label?
     
  2. Acid

    Acid yes

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    best brand in italy............:unsure: is he being funny :sick:

    donatella (or her team) whoever is designing this crap need to go......i think allegra should start from scratch with a completely new young fresh team to take on the challenge. keep all the technical people though......but donatella and the designers MUST go IMO in order to push the brand
     
  3. sbbbjm

    sbbbjm New Member

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    so what exactly is the family structure with allegra, donatella, gianni etc? did gianni start the versace house? -- i'm so uneducated.
     
  4. mdankwah

    mdankwah New Member

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    gianni started the house and as his wish he gave donatella 20%, his brother santo 30% and allegra 50% so Allegra has to take over.
     
  5. Acid

    Acid yes

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    she doesnt HAVE to take over........she'll just be the largest steak holder in the business.

    I was reading an article the other week and Donatella said

    'Allegra is concentrating on acting at the moment, taking classes both in Italy and New York, if it doesn't work out she will work for the family business, she draws very well'
     
  6. mdankwah

    mdankwah New Member

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    i know she doesn't have to over but for the sake of the label, let's hope she does, a breath of fresh air will do versace some good.
     
  7. ebowleg

    ebowleg New Member

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    It's definetely one of the best...As for Allegra stepping up, I think she should step down...The last two/three seasons at Versace have proved to be strong and it is reported that sales are up 20% (i think that's correct)...Maybe Donatella should let Allegra start on the Versus label before moving on to Versace...if she does :flower:

    I think they should sell...in a still shaky economic climate, I think it's the safest thing to do :innocent:
     
  8. Acid

    Acid yes

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    the only thing that is keeping the brand going is the identification of the name from back in the day.
    the clothes are hideous, esp the menswear :sick: its terrible terrible qualty too
     
  9. MaLkAv

    MaLkAv New Member

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    I live in Italy and I came to read lots of pieces about the Versace saga... I would say that there are about (or at least) 70% odds that Allegra will sell. I would say 100% but there might have been some kind of underground agreement that has been kept secret.

    another partner on the line might be the chief of the company which produces versace's sunglasses line... who is in good "friendship" (sorry i miss a better word for that) with Santo Versace.

    I'm too curious! :woot:
     
  10. kit

    kit New Member

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  11. Lena

    Lena etre soi-meme

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    fresh from the versace camp

    i wonder how they manage to continue producing :innocent:
     

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