By  on March 15, 2019

The accountants have pulled the curtain back at Versace — the 9 million-plus euros it has paid annually for fashion shows and events, the more than 5 million euros for photo shoots and more.

When Capri Holdings Ltd., also parent to Michael Kors and Jimmy Choo, bought Versace for $2.1 billion last year, the luxury brand morphed from being controlled by the Versace family to being part of a publicly owned holding company. The deal has been described exhaustively in mandated filings to the Securities and Exchange Commission and, on Friday, Capri disclosed the audited financial statements of GIVI Holding SpA, which held the 80 percent of Versace held by the family.

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