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 — New York private-equity fund Blackstone Group is said to be taking a 20 percent stake in Gianni Versace SpA, after a drawn-out bidding process that also included Investcorp and CCMP.
The Blackstone Group will reportedly buy a 20 percent stake through a capital increase of $205.8 million (€150 million), acquiring shares valued at $82.3 million. The sale is intended to finance further global expansion for the brand, however the Versace family will maintain control of the company that bears their name.
Founder Gianni Versace's siblings, creative director Donatella Versace and chairman Santo Versace currently hold 20 and 30 percent stakes respectively, whilst Donatella's daughter with Paul Beck, Allegra Versace Beck, holds a 50 percent stake.
Joining an already outstanding lineup including Chanel’s global chief executive officer Leena Nair, Bottega Veneta’s creative director Matthieu Blazy, and John C. Jay, president of global creative of Fast Retailing, we are delighted to reveal the latest roster of speakers joining us at BoF VOICES 2023.
Walmart and Centric Brands are investigating their supply chains in Cambodia over allegations that inmates at the country’s largest women’s prison were illegally employed to produce garments for export.
Nike is facing increased demands to sell a Mary Earps shirt after the England player saved a penalty in the World Cup final and was named the tournament’s best goalkeeper.
The Business of Fashion has partnered with Soho House and Farfetch to give BoF Professional members access to two very special offers.