Versace is a name that is commonly heard in fashion circles, not only for bags, but also for clothing. Versace has been responsible for some iconic bags over the years, yet it has often become the star of the ramp at major celebrity events. Gianni Versace SPA is the full formal name of the company, but it is known as a single word: Versace.
The history
Gianni Versace, the founder of this famous design house, is best known for being the first designer to link fashion with music. He was also known in some circles for being openly gay. 1978 was the year the first Versace boutique opened. This happened in Milan. As a child, Versace learned a lot from his mother, who was a seamstress. It is a little known fact that before breaking onto the fashion scene after studying fashion design in Milan, he also studied architecture. He recognized that his greatest inspiration was Andy Warhol.
Versace was diagnosed with cancer but sadly died before the cancer got too bad. Andrew Cunanan, a killer on a spree, murdered him.
What happened after his death?
Every organization and business goes through a transition when its owner dies. After Versace’s death, control of the company remained with the family itself. His sister, whom he had appointed vice president during his lifetime, took over as creative director. His brother, however, took over as CEO. Things went well for a while, but the company was plagued with growing problems and losses in the early 2000s. Against the tradition of family control, in 2003, Fabio Massimo Cacciatori was hired as interim CEO. His main job was to turn a new sheet and possibly the luck of the company. But he did not stay long and resigned for a few months. He said he did not agree or get along with the Versace family on important issues.
Versace today
From 2009 onwards, Gian Giacomo Ferraris has served as CEO. The company has more than eighty boutiques around the world. It made headlines this year when Blackstone Group bought a twenty percent stake in the company.
Buy the bag
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