Versace Empire Sold For Roughly $2 Billion

The latest news about the Milanese fashion empire Versace being sold immediately spread around the worldwide media like a wildfire. The surprising move of the brand’s creative director Donatella Versace who led the brand since the late 90’s, to sell the family company to the New-York based fashion mogul Michael Kors, absolutely stunned the fashion as well as business industry.

According to the reports, all 80 % of Versace family shares and 20% of Blackstone investment group’s shares are being sold for approximately $2 billion dollars. It has been an open secret in high fashion circles for a while now, that Donatella was looking for a new owner and creative director for the brand.

Loyal Versace customers and fans now fear that similarly as Michael Michael Kors’ commercial line of accessories and clothing reached retail department stores, Versace will from now on take a similar turn and will, therefore, undergo a complete brand transformation.

That is why Donatella took to Instagram, to reassure everyone that Versace will maintain its true Italian authenticity and glamour all the fans fell in love with at first place.

“Versace will remain ITALIAN, Made in Italy and that it will keep its GLAMOUR, DARING and INCLUSIVE attitude that has made you all love it.”

She also hinted that she is not completely abandoning the industry so perhaps the rumors about Donatella taking up a higher lead within the company’s holdings might be after all true…