Gianni Versace S.r.l. (Italian pronunciation: [ˈdʒanni verˈsaːtʃe]), usually referred to as Versace (/vərˈsɑːtʃeɪ/ vər-SAH-chay),[a] is an Italian luxury fashion company founded by Gianni Versace in 1978 known for flashy prints and bright colors.The company produces Italian-made ready-to-wear and accessories, as well as haute couture under its Atelier Versace brand and licenses its name and branding to Luxottica for eyewear.Gianni Versace being a native of Calabria, in the ancient Magna Grecia (Greater Greece), the company logo is inspired by Medusa, a figure from Greek mythology.
Versace has designed for various music artists, including stage and album cover costumes for Elton John in 1992 and outfits for Michael Jackson. Versace also designed clothing for the Princess of Wales and Princess Caroline of Monaco.
After the murder of Gianni Versace in 1997, his sister Donatella, formerly vice-president, took over as creative director, and his older brother Santo Versace became CEO.Donatella's daughter Allegra Versace was left a 50 percent stake in the company, which she assumed control of on her eighteenth birthday.
As of 2016, more than 1500 boutiques operate worldwide; the first boutique outside of Italy opened in Glasgow, Scotland, in 1991.
In September 2018, Michael Kors offered to buy Versace for two billion euros.Versace announced all Blackstone and Versace family shares were sold to Michael Kors Limited.The acquisition was completed in December 2018, with Donatella Versace remaining head of creative design. In January 2019, Gianni Versace S.r.l. joined Capri Holdings Limited, forming a new global fashion luxury group alongside Michael Kors and Jimmy Choo.
In 2018, Versace stopped using fur in its products and in 2020 announced it would stop using kangaroo leather.In October 2018, Versace announced its first Pre-Fall season show in New York, scheduled on Gianni Versace's December 2 birth date.In 2021, Versace opened its first SoHo, New York boutique.