Versace would be for sale, a collateral victim of the merger between Capri Holdings and Tapestry. On the subject of M&As, Giovanna Ferragamo, Salvatore’s second daughter, dismisses the hypothesis of the brand founded by her father Salvatore changing hands: she believes in independence and in the generational transition thanks to the rule of “three”.
Versace would be for sale
It is still to be seen whether the Federal Trade Commission will authorise the merger between Tapestry and Capri Holding. In the meantime, rumours (already circulating, together with those on the fate of Jimmy Choo) are returning that Capri Holdings has Versace under the magnifying glass. Among the various options being considered, there is also sale: the American group has even already met with two investors, Exor and Kering. According to Corriere della Sera, the opposite scenario cannot be ruled out even: that is, that Capri decides not only to keep Versace, but to invest in it in order to make it the flagship brand of the future stars and stripes fashion giant. Symmetrically, Tapestry would also be considering getting rid of Stuart Weitzman.
The Ferragamos are not letting go of Ferragamo
The one who is not for sale, and perhaps never will be, is Salvatore Ferragamo. At least that is the hope of Giovanna Ferragamo, president of the Ferragamo Foundation, speaking at “Fashion is not a luxury”, an event promoted by Il Giornale. “We believe that the company can remain in the family. I would like there to be continuity. Ferragamo cannot exist outside of Italy: Made in Italy is a plus”. Giovanna Ferragamo revealed the rule of three: “If all our relatives, children and grandchildren, were to join the company, how could we manage it? So we decided that only three people of the new generation would enter the company, and only after having gained experience elsewhere for at least three years”. (mv)
Photos from Versace’s social media
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