The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
MILAN, Italy — Italian fashion house Versace is in "no rush" to list on the stock market, its chief executive told Reuters on Saturday.
The brand, famous for its Medusa head logo, has been considering a listing, after U.S. private equity Blackstone bought a 20 percent stake in 2014 to fund its overseas expansion.
The Versace family holds the rest of the company, and Donatella, sister of late founder Gianni, doubles as artistic director and vice-president of the Milan-based group.
Asked about a possible initial public offering, CEO Jonathan Akeroyd said, "We've been working a lot ... There is no rush."
"It's an amazing company. There is a lot to do," he added, before a show of its men's collection for autumn-winter 2018, without giving further details.
Versace posted sales of just under 670 million euros ($817.00 million) in 2016.
Akeroyd, formerly head of British brand Alexander McQueen, took over as CEO of Versace in May 2016 from his Italian predecessor Gian Giacomo Ferraris.
Since his appointment the group has been working on streamlining its management structure.
By Giulia Segreti; editor: Hugh Lawson.
In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.
For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.
A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.
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