Versace Sale Draws Nearer
- 07 September 2013
GIANNI VERSACE
SPA is "well on track" to sell a minority stake privately,
before a public offering in three to five years' time. The label's
CEO, Gian Giacomo Ferraris, confirmed the news yesterday at a
conference announcing plans to open a hotel in Macau, China. He
declined to disclose the names of potential investors, reports
Bloomberg.Regardless of what happens, the Versace family will retain control of the business. Santo and Donatella Versace still own 30 and 20 per cent stakes, respectively, and Donatella's daughter, Allegra Versace Beck, has a 50 per cent holding in the company.
In April, Ferraris said that the company would only consider going public when the brand's sales reach between €500 million to €600 million (£424 million to £509 million). The firm made €408.7 million (£348 million) in 2012.
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