Versace investment deal is good news for accessories
28/02/2014
Blackstone will have one seat on the Versace board, but said in a statement that Allegra Versace Beck, Donatella Versace and Santo Versace would all continue to play important roles.
At the time of the announcement, Donatella Versace, the group’s creative director, said Blackstone shared her family’s vision for the development of Versace. And chief executive, Gian Giacomo Ferraris, said Blackstone’s investment would help the company build on the work of recent years, in which, he said, it had nearly doubled in size, built global brand recognition and established “a formidable organisation”.
For his part, Blackstone co-founder and chief executive, Stephen Schwarzman, described Donatella Versace as “a true icon” and said it would be a pleasure to work with her.
Early plans include investing in the Versace retail store network in existing and emerging markets and enhance its e-commerce business. But the company will also work to develop its brands and its product offering and this will include “a specific focus on accessories”.
Image by Marek Slusarczyk shows a Versace boutique in Vienna.
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