VERSACE: Acquired & How!

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Following days of rumors, it’s official: Michael Kors Holdings Limited eventually bought Versace, the Italian luxury goods house founded by the late Gianni Versace in 1978 and now creatively helmed by his sister, Donatella Versace, for more than $2.12 billion. Michael Kors Holdings will be renamed Capri Holdings Limited with the acquisition. Here is a background of this world famous- Italian brand Versace, the lady behind it and what led to its acquisition on September 25, 2018 by Michael Kors.

Donatella Versace – A Vision in the World of Passion

Born on 2 May 1995, Donatella Versace (full name Donatella Francesca Versace) is an Italian fashion designer and is the current Vice-President and Chief Designer of the famous fashion brand Versace Group. Donatella was born in Reggio Di Calabria, an Italian City. Her father was a personal financier to the Italian Aristocracy. She was the youngest among four children.

Donatella got married later to Paul Beck, a former model, who now lives separately. She has two children Allegra and Daniel.
Not only fashion label, she also owns Versace hotels all over the world.
Donatella Versace loves everything glamorous with a hint of minimalism. She is in love with this glamorous world.
Donatella’s iconic blonde look has always been very popular. It is less known that when she was 11 years old, her brother Gianni was so obsessed with Pravo, a heroine of that time, persuaded her to dye her hair like her. It was Gianni’s invention of her new blonde look.
Donatella began the designing in early 1980s. Before that she was the muse and critic for her brother Gianni. She was the main inspiration for one of Versace’s perfumes Blonde. During Gianni’s lifetime, Donatella helped him with a lot of new ideas and his lines.

The Versus line was established by Gianni and he gifted it to Donatella Versace which later got popular among younger audience.
Donatella still runs a show every year to pay tribute to her brother Gianni. She showcases her collection as a tribute to his life and work.
Donatella is a very close friend with Lady Gaga. Gaga was the first person to access the Versace archives, for music video ‘Edge of Glory’. Lady Gaga also starred in a Versace campaign in 2013. Gaga also wrote a song for Donatella in her album Art Pop, talking about Donatella’s signature look, ‘I am Blonde, I am skinny, I am rich and I am a little bit of a bitch’.
Donatella has created many iconic looks. Her most talked look was the unforgettable Versace dress for Jennifer Lopez for Grammy Awards. The dress was designed by Donatella for Versace spring 2000 collection. The dress was so popular that in 2015 Google’s executive Eric Schmidt revealed it was the dress, because of which Google images were created because so many people searched on Google for the dress.
Donatella has also posed for Givenchy’s Fall 2015 campaign. The shoot was more of a message of friendship in fashion. Riccardo Tisci wanted to show the friendship, support and making fashion community a family. According to New York Times, the brand holds the valuation of around $1.4 billion in 2014. Versace is not just a fashion brand. It deals with Donatella’s watch, perfumes, accessories, hotels, home decors and more.
Michael Kors is buying Italian luxury brand Versace for $2.12 billion! Michael Kors is planning to invest in Versace retail outlets (from around 300 stores).
Donatella will stay on as the Creative Director of the Company, which was founded by her late brother Gianni in 1978. Fans were not happy to hear this news.

Donatella shared a message on her Instagram account for her fans;
‘Ciao a tutti! You all know how I love the interaction that I have with all of you here. First of all, I wanted to let you know that i am not going anywhere, so for those who wanted to get rid of me, well…it ain’t happening!
I also wanted to reassure you that Versace will remain ITALIAN, made in Italy and it will keep its GLAMOUR, DARING and INCLUSIVE attitude that has made you all love it. This is just the beginning of an exciting, new adventure that i hope you will live together with me!’
Xoxo Donatella

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