MILAN — Santo Versace is exploring new territories.
After the sale of the Versace brand last year to Michael Kors Holdings Ltd., which later was renamed Capri Holdings, the older brother of Gianni and Donatella Versace has made an investment in the movie industry.
Through a 6 million euros capital increase fully underwritten by Versace, the entrepreneur has become one of the main stakeholders of Rome-based movie production and distribution house Minerva Pictures. Following the operation, Versace was named president of the company.
Before the sale of the Versace fashion house, Versace controlled 30 percent of the company, which was sold to Michael Kors Holdings Ltd. for $2.1 billion. The remaining shares were in the hands of Donatella Versace and her daughter, Allegra Versace Beck, as well as Blackstone Group.
At the time of the acquisition, Santo Versace held the role of chairman of the fashion house, founded in the late Seventies by his late brother Gianni. Santo was also chief executive officer of Gianni Versace SpA until 2004. Versace doesn’t cover any roles in the Versace company.
In addition, Versace became a member of the Italian Parliament in 2008. After several years with former prime minister Silvio Berlusconi’s Popolo della Libertà (People of Freedom) party, in 2011 he switched to the Alleanza per l’Italia (Alliance for Italy) party.
Originally founded in the Fifties’ by Antonio Curti, Minerva Pictures affirmed its role on the international movie production scene in the Seventies. During its activity, the company acquired and developed a library, which counts 1,500 titles, including movies, TV series and documentaries. Gianluca Curti is the ceo of the company.