More sales on the horizon for Italian fashion. Even the historic Versace family, one of the symbols of Made in Italy in the world, is taking a step forward for the sale of a stake in the fashion house, inviting private equity investors to make a second round of offers at the end of the month.
The Financial Times reported the news citing some sources, according to which among those likely to bid for 20-30% of Versace would be former Gucci owner Investcorp, fund manager Blackstone and Permira, the private equity group that controls Hugo Boss and which sold Valentino last year. Also interested could be Fondo Strategico Italiano and the French Ardian.
There is therefore the concrete possibility that the historic fashion house will also end up in foreign hands, as has happened for Valentino and other brands over the last few years. At the end of the month, interested companies will have to present an indicative offer and present in detail how they see the governance of the company together with the family.
Once the indicative offers have been presented they will meet with the company's management before presenting the new offers on 25 November. The offers, according to analysts, should exceed 850 million euros. The Versace family aims to raise around 150 million euros to finance expansion and listing on the stock exchange in three years.
