Versace’s sale “imminent”, says Italian newspaper

The sale of Italian fashion house Versace could be announced “within hours”, according to the Italian newspaper Corriere della Sera, which cites unnamed sources close to the company.

The newspaper said Donatella Versace, the company’s vice-president and artistic director, has called a staff meeting for tomorrow, during which the sale will be announced. Versace declined to comment.

Shoemaker Jimmy Choo, luxury jeweller Tiffany & Co and US fashion group Michael Kors Holdings were listed by the newspaper as possible buyers.

The company is currently owned by the Versace family -- Donatella is the sister of the label’s late founder, Gianni Versace. US private equity group Blackstone has a 20 percent stake in the business, acquired four years ago.

The fashion house, which presented its Spring/Summer 2019 collection at Milan Fashion Week this weekend, was one of the big winners in the 2018 Green Carpet Fashion Awards, whose ceremony was held last night. Donatella Versace took home the CNMI award in recognition for sustainability.

Photo: courtesy of the Green Carpet Fashion Awards