Versace keen to find €250 million investor
Published: 21 Sep 2013 10:19 GMT+02:00
Updated: 21 Sep 2013 10:19 GMT+02:00
Denim, leathers and chains were the look at Versace's Milan Fashion Week show on Friday, as the family-owned brand looks for a possible investor to buy a stake.
The company this week said it wanted a minority investor to pump finances into the brand and help develop it further. A source told AFP this week that Versace hopes to select an investor next month to invest around 250 million euros ($335 million) for a stake of 15 to 20 percent.
Italian daily Il Sole 24 Ore said one possible investor for the company, which is still 100-percent family owned, could be Qatar's sovereign wealth fund.
Its collection for the spring/summer 2014 season was characteristically over the top, edgy and verging on kitsch.
"Twenty-first century Versace is boldness, energy, rock and casual luxury," it said in a note after its catwalk show in Milan's fashion district.
Designer Donatella Versace was going for a mix of the glamour associated with the brand and a more "street style".
"I wanted everything to look casual but with a street toughness," she said.
Fluorescent colours gave the collection a youthful look, along with high-cut leather jackets and skinny jeans.
There was even a black T-shirt with a heavy metal theme in the collection, which Donatella herself wore when she came onto the catwalk after the show.
The use of metal mesh was particularly striking in various forms -- as a neck scarf, a pocket and as part of a dress.
Brand founder Gianni Versace was murdered in 1997 outside his Miami Beach mansion by spree killer Andrew Cunanan.
The Mediterranean-style seaside villa was sold at auction earlier this month for $41.5 million (30.7 million euros).