Capri Holdings to donate 10 million dollars to newly formed The Versace Foundation

Fashion conglomerate Capri Holdings has announced a pledge of 10 million dollars to The Versace Foundation, supporting the new organisation’s initiatives that aim to drive awareness and uplift the LGBTQIA+ community.

“We are pleased to announce the creation of The Versace Foundation,” said John D. Idol, chairman and chief executive officer of Capri Holdings, in a release.

Idol continued: “We all have a right to be accepted, to be loved and to be our most authentic selves. The Versace Foundation enables us to further our pursuit of LGBTQIA+ equity, wellness and safety, as well as to continue to be an ally for LGBTQIA+ worldwide.”

The freshly launched foundation, which coincides with the start of Pride month 2022, will work with philanthropic groups to aid in the preservation of LGBTQIA+ history and culture as well as further promote initiatives driving equality, wellness and safety for those who identify as part of the community.

“I’m proud that Versace has always been known for its inclusivity,” said chief creative officer of Versace, Donatella Versace. “I am excited for the support and assistance The Versace Foundation will bring to the LGBTQIA+ community.”