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Fashion house Versace to be sold?

by Purvai Dua
24th Sep 18 9:07 am

Sale of Italian fashion house Versace could be announced “within hours”, Italian newspaper Corriere della Sera has reported today, adding that the brand could be valued at $2bn.

Versace’s vice-president Donatella Versace, sister of late founder Gianni, has called a staff meeting for tomorrow when the official announcement could be made. US private equity group Blackstone already has a 20 percent stake in the business.

Milan-based Versace has declined to comment on the report.

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