From a Calabrian tailor shop to a $2 billion luxury empire
In short: What began in 1978 as a single boutique in Milan has evolved into a global symbol of excess. Through high-profile acquisitions and iconic celebrity moments, the House of Versace has navigated family tragedy, corporate takeovers, and a recent billion-dollar merger with Prada.
Founded by Gianni Versace in 197 and launched with a collection at Milan's La Permanente, the brand's identity is deeply rooted in its founder's heritage. Drawing from his roots in Calabria, the ancient region of Magna Graecia, Gianni chose the Medusa head as the company logo. The house expanded rapidly from its 1978 debut, introducing fragrances in 1981 and diversifying into jewelry, home furnishings, and even luxury automobiles, such as the limited-edition Lamborghini Murciélago LP640 Versace.
The brand's history is marked by both cultural milestones and leadership transitions. The 1990s saw the rise of 'that dress'—Elizabeth Hurley's black Versace gown—and the 2000 appearance of Jennifer Lopez in a green dress, both of which became legendary in fashion history. Following Gianni's murder in 1997, his sister Donatella Versace took the helm as creative director, maintaining the brand's presence alongside her brother Santo, who served as CEO.
In recent years, Versace has undergone significant corporate restructuring. After being part of the Capri Holdings group—which also included Michael Kors and Jimmy Choo—the company was acquired by the Prada group in a deal valued at approximately $1.375 billion, completed in December 2025. As the brand enters a new era under Prada, it faces significant shifts, including the planned discontinuation of the Versace Jeans Couture line and the return of Atelier Versace to the Paris Fashion Week couture schedule in 2027.
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Sources
- Summary by Intellect · source: Versace
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