Is Versace Still Alive as an Operating Fashion Brand
Yes, Versace remains an active luxury fashion brand operating under the Capri Holdings umbrella. The company continues to design and sell apparel, accessories, and fragrances through a global network of flagship stores, department stores, and e commerce platforms. Capri Holdings, formerly known as Michael Kors Holdings, acquired Versace in 2018 for approximately 2.15 billion dollars, integrating the Italian house into its portfolio alongside Michael Kors and Jimmy Choo. The brand still shows the Medusa head logo and Baroque inspired prints on its runway collections and retail products. As of the latest public filings, Versace operates more than 150 standalone stores worldwide, with significant presence in Europe, Asia, and the Middle East. The brand maintains a strong digital footprint through its official website and major luxury e commerce partners, where it consistently ranks among the top searched Italian luxury labels. For an overview of Capri Holdings' structure and Versace's role within the group, see the Capri Holdings investor relations page Capri Holdings official site.
Versace's parent company, Capri Holdings, reported consolidated revenue of approximately 6.4 billion dollars for the fiscal year ending March 2024, with Versace contributing a growing share of that total. The brand's revenue growth has been driven by expanded distribution in China, strong performance in the accessories category, and a renewed focus on men's wear. Capri Holdings has invested in digital marketing, influencer collaborations, and limited edition capsule collections to maintain Versace's visibility among younger luxury consumers. The company also continues to manage the brand's licensing agreements for eyewear, watches, and fragrances, which provide additional royalty income. According to recent industry rankings, Versace remains one of the top 10 global luxury fashion brands by brand value, as measured by firms such as Brand Finance and Bain and Company. The brand's runway shows, which are now part of the formal menswear and womenswear calendar in Milan, continue to generate significant press coverage and social media engagement.
Who Owns Versace Now and What Is the Corporate Structure
Versace is wholly owned by Capri Holdings Limited, a publicly traded company listed on the New York Stock Exchange under the ticker symbol CPRI. The acquisition was completed in December 2018 when Capri Holdings purchased the Versace group from the Versace family for a deal valued at 2.15 billion dollars. The transaction was structured as a cash deal, and the Versace family received a significant payout while retaining some involvement in the brand's creative direction. Donatella Versace, the creative director and former CEO, continues to play a prominent role in the brand's design identity and marketing campaigns. The corporate structure places Versace as a subsidiary within Capri Holdings, which is itself controlled by a consortium of investors led by the private equity firm Permira. Permira acquired Capri Holdings in 2023 in a leveraged buyout, taking the company private and delisting it from the NYSE, which changed the ownership and governance structure of the Versace brand. For details on the Permira acquisition and Capri Holdings' delisting, see the Permira press release Permira official site.
The delisting of Capri Holdings in 2023 means that Versace's financial performance is no longer reported in public quarterly earnings filings, but Capri Holdings continues to share selected brand level metrics in investor presentations and industry reports. The deal with Permira valued Capri Holdings at approximately 6 billion dollars, with Versace being a key driver of that valuation due to its strong brand recognition and growth trajectory. The new ownership has focused on streamlining operations, reducing debt, and investing in the creative and commercial expansion of Versace. Capri Holdings has also explored strategic partnerships and collaborations to increase Versace