|Net Worth:||$1 Billion|
What is Versace’s Net Worth?
Gianni Versace popularly known as Versace is an Italian luxury fashion company that has a net worth of $1 Billion. It was started by Gianni Versace in 1978 and is well-known for its colorful patterns and vibrant colors.
Under its Atelier Versace brand, the company creates haute couture, ready-to-wear, and accessories created in Italy. Luxottica is licensed to use the name and branding for eyeglasses.
The company’s emblem was influenced by the Greek mythological character Medusa because Gianni Versace was born in Calabria, Greater Greece’s predecessor. Gianni Versace produced his first lines of clothing in 1972 for Callaghan, Genny, and Complice.
Gianni Versace Donna was the brand name used when the business debuted in 1978, and Via Della Spiga in Milan was the location of its initial store. From designing to retailing, Gianni operated independently in a large portion of the business.
Aside from clothing, the company now sells accessories, jewelry, furniture for the house, and tableware. This expansion took place in 1982. Young Versace and Versus lines were added by Donatella Versace in 1993.
The black Versace dress Elizabeth Hurley wore in 1994, known in the media as “that dress,” helped the company acquire international attention. Versace has created garments for a variety of musicians, including Michael Jackson and Elton John.
Versace also created theatrical costumes and album covers for Elton John in 1992. The Princess of Wales and Princess Caroline of Monaco both wore apparel by Versace.
Following the 1997 murder of Gianni Versace, his sister Donatella, who had served as vice president, assumed the role of creative director, and his older brother Santo Versace assumed the position of CEO.
Allegra Versace, the daughter of Donatella Versace, inherited a 50% stake in the business, which she took over when she was 18 years old. The green Versace gown worn by Jennifer Lopez to the Grammy Awards in 2000 drew a lot of media attention.
In a 2008 Daily Telegraph poll, Elizabeth Hurley’s black Versace gown was chosen as the most iconic dress of all time, placing the outfit at number five.
Versace released a collection of tops in August 2019 that appeared to depict Hong Kong and Macau as different nations.
Versace issued an apology and promised to destroy the offending apparel, claiming that a design error had been made. Yang Mi terminated her role as a brand ambassador for Versace in response to the issue.
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