Introduction to Versace.

Versace is an Italian luxury brand and trade organization . This was founded by Gianni
Versace in the year 1978. Versace has been dominated in many countries especially in
us. The head quarters of Versace cab be found in Milan and Italy. Versace is
specialized in many producing products like textiles, apparels, perfumes, bags, home
decors,accessories,etc. Versace was one of the most independent designers. Versace
was often described as rock n roll designer at they design costumes for Michael
Jackson, Elton John etc. The first boutique of Versace was outside the Italy in Glasgow,
in Scotland in 1991. Accord to the 2016 there were more than 1500 boutiques were
opened and initiated operating worldwide. The brand has gained more attraction due to
the different and unique logo of a brand. The Versace logo is the head of Medusa.
Medusa a Greek mythological figure. Gianni Versace chose Medusa as a logo because
she made people fall in love with her and they had no way back. He hoped he could
have the same effect on the people. Versace is also popular for their bright Colors and
unique styling of fashion. Due to the unfortunate assassination of Gianni Versace the
brand was at risk but the sister of Gianni Versace, Donatella Versace took over the
brand. She took over as a vise president and creative designer and his older brother
Santo Versace become CEO. The company announced in 2018 that it would stop using
fur in its collection. As of 2017 ,the company net worth is valued at $ 1.7 billion. The
estimated annual revenue is $425 million. There are approximately 1250 employee
working in the firm. There are many competitors rising as a threat for Versace. Some of
the companies are, farfetch ,balman , Tobi, Loewe, etc. In 1994 the brand gained
worldwide recognition die to the black Versace dress of Elizabeth Hurley. In 1993 the
Donatella Versace created a young Versace lines and also versus. In 2000 Versace
green dress worn by Jennifer Lopez 42nd annual Grammy awards gained a lot of media
attention , voted as the ‘fifth most iconic dress of all the Time' in 2008. On September
24, 2018 , one if the most recognizable company ‘Michael Kors' offered a deal to buy
Versace for 2 billion euros. In February 2014 , the Blackstone group purchased a 20
percent stake in Versace for €210 million.