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Versace keen to find €250 million investor
Designer Donatella Versace during Milan fashion week. Photo: AFP/ Filippo Monteforte

Versace keen to find €250 million investor

AFP · 21 Sep 2013, 10:19

Published: 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.

Story continues below…

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).
 

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