Versace has fallen for the lusting tactics of Wall Street investors, who have whispered sweet-nothings into the ears of their esteemed board members. Versace has decided to sell twenty percent of their stakes to a private equity firm called Blackstone Group LP for two-hundred and eight-seven million dollars in cash, as well as shares in GIVI, which is a holding company privately owned by the Versace family.
Versace has been graced by so many celebrities like Jennifer Lopez, Madonna, and Lady Gaga who has been seen in a variety of Versace ad campaigns channeling Donatella. In efforts to expand Versace on a higher global platform, like other design houses such as Prada, Salvatore Ferragamo, and Michael Kors, they have succumbed to the persuading influences of investment hungry wall street geniuses, who are more than excited to have significant amount of shares in a company that is predestined to endure.
References
Credit: Versace Sells Stakes to Private Investor: Blackstone Group buys into fashion house for $287M. (28-Feb-2014). Retrieved March 12, 2014. http://vmsd.com/content/versace-sells-stake-private-investor
Photo Credit: Versace Gets Multiple Offers For Stake Sale. (25-Feb-2014). Retrieved March 12, 2014. http://www.bloomberg.com/video/versace-getting-multiple-offers-for-stake-sale-A3gCl6K7QC2zqgx3pf3K3A.html
Photo Credit: Lady Gaga Channels Donatella. (20-Feb-2014). Retrieved March 12, 2014. http://www.eonline.com/news/513070/donatella-versace-pens-lady-gaga-tribute-in-v-magazine-s-spring-music-issue
No comments:
Post a Comment