There was panic on the streets of London yesterday. I am Italian, and I have loved the brand, for it’s vibrant prints and outrageous collections over the years.
Here is me driving a Mantis Green 570s McLaren a few days ago, wearing Versace Vintage.
Everyone including me was in shock to hear that Versace was sold to Michael Kors.
It was snapped up for 2.1 Billion Dollars, personally sold for far too cheap. Sadly, taking over one of the last independent Italian brands in an effort to build an empire to rival major European conglomerates LVMH Moet Hennessey Louis Vuitton (whose stable of brands includes Givenchy, Fendi, Dior among many others) and Kering (Gucci, Saint Laurent, Alexander McQueen, Balenciaga and others).
With Versace and Jimmy Choo (purchased in 2017) under his belt, Kors, who will rename his company Capri Holdings Limited upon completion of the sale, is already wreaking havoc in the existing power structure that has dominated luxury fashion since the 1990s.
The question now is whether the American designer and his chief executive and chairman John Idol can succeed where their other countrymen have failed and create America’s first luxury group.
Versace Is This The End Of The Road
Last night I was invited to an exclusive catwalk event. As I looked on and felt these items. I went straight to the Versace representatives, who flew in for the occasion, from Milano. Amongst the guests, hardcore loyal Versace clients wearing, Versace from head to toe, were concerned too.
I asked the question, that we are all very well thinking about. Is this the end of the road for Versace? Will Michael Kors, devalue the brand? In their own words.
Versace has an exciting future, Donatella will still be very much involved and the Versace brand were remain true to its heritage.