Versace Takes Steps To Start IPO

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A look from Versace's autumnwinter 2015 show

The above image is a look from Versace’s autumn/winter 2015 show.

Donatella Versace‘s Versace is the latest luxury brand to go public.

The Italian house is set to go public, following yesterday’s announcement that profits have jumped almost a third in the past year, for the second year running. Versace revealed that the net profits for 2014 were up 27% to €26.3 million, while EBITDA rose 10%.

Below is what Vogue UK reports:

The first clue that a long-rumoured IPO is imminent came in Versace’s manner of declaring the figures, WWD  reports, which was via International Accounting Standards, in line with the sector’s publicly listed companies. Chief executive officer Gian Giacomo Ferraris, when questioned on this procedure, admitted that the company is “seriously and concretely preparing the process [for an IPO]. This is one step.

Investors gearing up to swoop for Versace may have a wait on their hands, however, since a three-to-five-year time frame is still being mooted by the company’s executives. After a lengthy negotiation, Blackstone acquired 20 per cent of the Milan-based label in 2014 in order to facilitate further global expansion. Plans for 2015 include store openings in Vancouver and Madrid, as well as re-entry into the Japanese market and significant growth in America.”

Photo Credit: Indigital

Source: Vogue UK

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Donovan

Donovan is the CEO and Editor-In-Chief of www.dmfashionbook.com. For all general inquiries please email don@dmfashionbook.com Donovan has a BA in Journalism & Media Studies from the prestigious Rutgers University. He's currently studying entertainment and fashion law.