MILAN — Versace’s talks to secure a minority shareholder are on track and industry sources point to a short list that includes the IQ Made in Italy joint venture, created last year to invest in Italian brands.
The joint venture was formed by Qatar Holding LLC, a global investment firm founded by the Qatar Investment Authority in 2006, and Italy’s Fondo Strategico Italiano, the holding company controlled by Cassa Depositi e Prestiti, or CDP, a financial company controlled by the Italian Ministry of Economy and Finance, which has a 70 percent stake. Other sources said another investment fund from Qatar as well as a separate Chinese investor could be zeroing in on taking a Versace stake. As reported, the Milan-based firm is looking at selling a 15 to 20 percent holding by the end of the year.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)