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 — Qatar Holding and an Italian state-owned investment fund have expressed interest in the luxury fashion house Versace, according to the Italian daily newspaper Il Sole 24 Ore. Qatar Holding, part of the gulf state's sovereign wealth fund and current owner of London department store Harrods, is said to be "looking carefully" at Versace, along with the Fondo Strategico Italiano, or FSI, the Italian investment fund owned by state financing company Cassa Depositi e Prestiti.
The considerations may be part of a joint venture agreement between Qatar Holding and FSI, finalised last November, to invest in Italian companies in sectors including food and luxury fashion.
In April, Versace chief executive Gian Giacomo Ferraris indicated that the company, founded in 1978 and still owned by creative director Donatella Versace and other members of the Versace family, was "exploring options which could accelerate the brand's further success," according to the Financial Times.
At the time, Ferraris also said that taking on additional investment would enable the brand to expand in new geographies, notably Asia, but did not indicate that any discussions were underway and ruled out the possibility of an IPO. The brand returned to profitability in 2011 after years of underperformance; last year, revenue grew 20 percent to €408 million.
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.