Fashion house Versace to be sold?


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.