Famous fashion house is looking forward for foreign investors

Versace is very famous Italian fashion house and this famous fashion house is looking forward for foreign investors so that it can compete in international fashion industry. Versace is popular for its well known gowns which are worn by many celebrities like Madonna and Lady Gaga returned to profit last year for the first time in 2009 when it turnaround to rebuild its international market share.

Versace is owned by an Italian family and this family has always appreciated for its freedom but they needs help of others so we can say that famous fashion house is looking forward for foreign investors especially after luxury peers such as Prada, Salvatore Ferragamo, and Brunello Cucinelli have successfully tapped the stock market in less than a year. Chief executive Gian Giacomo said in an interview that management of this fashion house is studying about advisors but no final solution has been made yet.

Versace, a famous fashion house is looking forward for foreign investors so that it can compete in international market. Italy’s weekly il Mondo said on Friday that Versace has got Goldman Sachs to seek a partner or to study other financial terms which include issue of financial instruments like bonds. Ferraris said that the group has not given any mandate to adviser yet and the meeting about it is due on Friday. Versace has opinion of initial public offers but still no final decision has been taken about it. Versace family has decided to open their business for investors so that they can compete in international market while keeping control of the house. Owner of this fashion house is platinum-blonde singer Donatella Versace with his brother Santo and daughter Allegra who has 50 percent and joined the board last year. Donatella is sister of late founder Gianni Versace.