Versace has announced an agreement with private equity company Blackstone to sell a 20 percent share. The agreement will see Blackstone inject €150 million of capital into the company and acquire €60 million in stock from GIVI Holding SPA. Versace chose Blackstone to participate in the next phase of the company’s development after a rigorous process of selection. On completion of the transaction, Blackstone will own 20 percent of the company, implying a total enterprise value of €1 billion, and it will have one seat on the company’s board. The Versace family will remain at the heart of the company, with Ms. Allegra Versace Beck, Ms. Donatella Versace and Mr. Santo Versace all playing important roles in the company. Versace’s enhanced capital position will allow the company to invest in its retail store network in existing and emerging markets. It will also enable Versace to bring forward plans to develop further the company’s portfolio of brands, in particular Versus Versace, as well as its product offering, with a specific focus on accessories, and enhance its e-commerce business.

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