VERSACE
Gianni Versace S.r.l. (Italian pronunciation. usually referred to simply as Versace, is
an Italian luxury fashion company and trade name founded by Gianni Versace in
1978. The company produces upmarket Italian-made ready-to-wear and accessories,
as well as haute couture pieces under the Atelier Versace brand. The Versace logo is
the head of Medusa, a Greek mythological figure. The logo came from the floor of
ruins in the area of Reggio Calabria that the Versace siblings played in as children.
Gianni Versace chose Medusa as the logo because she made people fall in love with
her and they had no way back. He hoped his company would have the same effect on
people and on those who wore his clothes and shoes. The Versace brand is known for
its innovative designs having symbolic flashy prints and bright colors but with style.
The company announced in 2018 that it would stop using fur in its collections. On 25
September 2018, American Michael Kors Holdings acquired all outstanding shares in
Gianni Versace S.r.l. for $2.12 billion (USD); the acquisition was completed on 31
December 2018, keeping on Donatella Versace as head of creative design. In 1972,
Gianni Versace designed his first collections for Callaghan, Genny, and Complice. In
1978, the company launched under the name "Gianni Versace Donna." The first
Versace boutique was opened in Milan's Via della Spiga in 1978. Versace was one of
the few independent designers who was in control of everything about the brand, from
designing to retailing. In 1982, the company expanded into the accessory, jewelry,
home furnishing, and china industries. In 1993, Donatella Versace created the "Young
Versace" line as well as "Versus." In 1994, the brand gained widespread international
coverage due to the black Versace dress of Elizabeth Hurley, referred to at the time as
"that dress". Versace was often described as the "Rock n' Roll designer" because they
designed for many famous clients, including Elton John and Michael Jackson.
Versace designed the stage costumes and album cover costumes for Elton John in
1992. Versace has also designed clothing for the Princess of Wales and Princess
Caroline of Monaco. The Versace company is known for using the same models in
their ads as they do on the runway. After the murder of Gianni Versace in 1997, his
sister Donatella Versace, formerly vice-president, took over as creative director, and
his older brother Santo Versace became CEO. Donatella's daughter Allegra Versace
was left a 50 percent stake in the company, which she assumed control of on her
eighteenth birthday. In 2000, the "green Versace dress" worn by Jennifer Lopez 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. The company's profits were in decline in the early 2000s;
Fabio Massimo Cacciatori was hired as interim CEO to reorganise and restructure the
Versace Group in 2003. Cacciatori resigned in December 2003 due to "disputes with
the Versace family". From 2004 Giancarlo di Risio, from IT Holding, was CEO of the
group until his resignation in 2009 due to disagreements with Donatella. In May 2016,
the Versace Group appointed Mr. Jonathan Akeroyd to the position of CEO and
member of the company's board of directors. In February 2014 The Blackstone Group
purchased a 20 percent stake in Versace for €210 million. As of 2016, more than 1500
boutiques operate worldwide; the first boutique outside of Italy was opened in
Glasgow, Scotland, in 1991. On 24 September 2018 Michael Kors announced that it
offered a deal to buy Versace for 2 billion euros. In 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 October 2018, Versace announced
to showcase the brand's first ever Pre-Fall season show in New York on 2 December.
The show is scheduled on Gianni Versace's birth date. In January 2019, Gianni
Versace S.r.l. joined Capri Holdings Limited, forming a new global fashion luxury
group together with Michael Kors and Jimmy Choo. The acquirement with Michael
Kors cost $2.2 billion. In 2020, the fashion house announced that it would stop using
kangaroo leather in its luxury products. This followed Versace's 2018 decision to ban
the use of real fur in its collection. In 2021, Versace opened their first boutique in
SoHo, New York.
COLLABORATIONS
In 2006, Gianni Versace S.r.l. entered into a partnership with Automobile
Lamborghini S.r.l. to produce the Lamborghini Murciélago LP640 VERSACE. The
car had a Versace white satin interior with the Versace logo embroidered into the
seats. The car was available in black and white. There were only ten units produced.
The car was sold with a complementary luggage set, luxury driving shoes, and driving
gloves.
The Versace company teamed up with AgustaWestland in 2008 to create the
AgustaWestland AW109 Grand Versace VIP luxury helicopter. The helicopter
includes Versace leather interior and a design on the outside. In 2009, Versace and
H&M released a new line of clothing that would be sold in H&M stores. The store
sold both men's and women's clothing and home items such as pillows and blankets.
In 2015, Versace collaborated with dancer Lil Buck to release a line of sneakers. In
2018, Ronnie Fieg and Donatella Versace debuted their Kith x Versace collection,
which featured a modified medusa logo with "KITH" written over its eyes. Versace
Men's Fall 2019 collection featured several items with the logo of Ford Motor
Company. According to the fashion house, the two companies joined forces to
channel "the excitement of buying your first car. Excitement and aspiration of owning
something as an extension of one’s personality, something very connected to the idea
of being a man." On September 26, 2021, Versace presented a joint fashion show with
Fendi, titled "The Swap", which consisted of two collections - "Kim Jones’ vision for
Versace and Donatella Versace's interpretation of Fendi." This marked the first time
two artistic directors of brands in different fashion groups designed collections for
each another, with Jones commenting, "we’ve just done it as friends, and out of
respect for each other. It’s never been planned as a commercial thing."
Versace partnered with the Mind Group firm in China in 2015. The two companies
designed luxury residence towers called the "Versace Residencies." The goal of the
creators were to combine Versace's luxury home elements with elements of traditional
Chinese culture. This same year, Versace partnered with the ABIL Group in India to
develop another residential project. These luxury homes are located in South Mumbai.
In 2015, Donatella Versace was featured in Riccardo Tisci's Givenchy campaign.
