Most Recent Articles In Designer and Luxury
Latest Designer and Luxury Articles
- Tod’s Della Valle, Moncler’s Ruffini Foresee Fashion Upheaval
- Espace Louis Vuitton Unveils Exhibit in Venice
- New York Men’s Day Roster Set
More Articles By
MILAN — Versace has narrowed down a short list of investors that includes global private equity firm CCMP, Investcorp and Blackstone, according to market sources.
This story first appeared in the December 17, 2013 issue of WWD. Subscribe Today.
“No final decision will be made before January,” said one source. The short list was cut down from a total of six offers, said another source.
As reported, the Milan-based firm is looking to sell a 20 percent holding by the end of the year to finance future growth. Siblings Santo and Donatella Versace, who hold a 30 and 20 percent stake, respectively, and Donatella’s daughter, Allegra Versace Beck, who owns 50 percent, want to maintain control over the company. Versace had no comment on Monday.
Rumors about a possible sale emerged last year when Versace tapped Goldman Sachs and Banca IMI to evaluate growth opportunities.
New York-based fund Blackstone emerged as an interested party in October. CCMP adviser Bob Singer sits on the Versace board and is a Gucci alum — as is Versace’s chief executive officer Gian Giacomo Ferraris. Bahrain-based Investcorp has also been rumored to be looking at the dossier.
According to sources, Permira, Italian fund Clessidra, Paris-based Ardian and the IQ Made in Italy joint venture are no longer in the running.