Versace Luxury brands, Logo, Founding father, and Sell out.

Versace is an Italian luxury fashion company and trade name that was founded in 1978 by Gianni Versace. Its logo is the head of Medusa a Greek mythological figure. The logo was chosen because Medusa made people fall in love with her and they had no way back. The Versace brand is well known for its innovative designs having symbolic flashy prints and bright eye-catching colors. 

What is Versace?

Versace is an Italian luxury fashion company and trade name that was founded in 1978 by Gianni Versace. Its logo is the head of Medusa a Greek mythological figure. The logo was chosen because Medusa made people fall in love with her and they had no way back. The Versace brand is well known for its innovative designs having symbolic flashy prints and bright eye-catching colors. 

When was Versace Founded

It was founded in 1978, by Gianni Versace and was known as Gianni Versace Donna.

History and Operations of Versace

The company was launched in 1978 under the name “Gianni Versace Donna.” In 1978 the first boutique was opened in Via della Spiga in Milan. Versace was an independent designer who was in control of everything about the brand from designing to retailing. The company expanded into the accessory, jewelry, home furnishing, and China industries in 1982.

Donatella Versace created the “Young Versace” line as well as “Versus” in 1993. The brand later gained widespread international coverage due to the black Versace dress of Elizabeth Hurley in 1994.

Versace designed clothes for many famous clients including Michael Jackson and Elton John. In 1992 Versace designed the stage costumes and album cover costumes for Elton John and have also designed clothing for Princess Caroline of Monaco and Princess of Wales.

After Gianni Versace was murdered in 1997 his sister Donatella Versace, who was the former vice-president took over as the creative director and his older brother Santo Versace became the acting CEO.

The “green Versace dress” worn by Jennifer Lopez on February 23, 2000, at the 42nd Annual Grammy Awards gained a lot of media attention, being voted as the “fifth most iconic dress of all time” in 2008, with Hurley’s 1994 dress being voted first in a Daily Telegraph poll.

In the early 2000s, the company’s profits declined and Fabio Massimo Cacciatori was hired as interim CEO to reorganize and restructure the Versace Group in 2003. In December 2003, Cacciatori resigned due to disputes with the Versace family. The company then hired Giancarlo di Risio from 2004 as the CEO of the group until his resignation in 2009, due to disagreement with Donatella.

Versace

Blackstone Group purchased a 20 percent stake in Versace for €210 million in February 2014. More than 1500 boutiques operate worldwide as of 2016. Michael Kors announced that it offered a deal to buy Versace for 2 billion euros on 24 September 2018. Versace announced that one hundred percent of all Blackstone and Versace family shares had been sold to the Group Michael Kors Limited in September 2018.

Gianni Versace S.r.l. joined Capri Holdings Limited, forming a new global fashion luxury group together with Michael Kors and Jimmy Choo in January 2019.

Versace Logo

A Caption of Versace Logo