Possible shares deal values Versace at 850 million euro

International expansion
and IPO

IQ Made in Italy Venture is a joint
venture between Fondo Strategico Italiano and the Qatari
state holding. The collaboration envisions a 2 billion euro investment into
Italian fashion, food, design and tourism.

It is no secret that the
Versace family has been looking for an international,
wealthy partner to speed up the brand’s expansion and to help
prepare the company for an IPO within the
next three years.

IQ Made in Italy is apparently in ‘pole position’ according to sources close
to the story, but others might still
intervene. Investcorp, a
Bahraini fund that sold Gucci, also wants a 20 % participation in Versace, just
like investment fund Blackstone and
Parisian group Ardian. London-based Permira has apparently
lost out on the shares.

Decision by the end of the year

Ever since Gianni Versace was murdered in 1997, the shares have been spread
over three family members: Brother Santo Versace has 30 %, sister Donatella 20 % and her daughter, Allegra, has the
remaining 50 %. Last week, Versace-president Santo Versace expressed the
family’s wish to reach a decision before the end of the year.

Versace’s 2012 turnover was 408.7 million euro, a 20 % increase compared to 2011. Donatella Versace may be the recognizable
face of the company, but an ‘outsider’ is the actual leader: Versace’s CEO is Gian Giacomo Ferraris, arriving in 2009
from Jill Sander.

(Translated by Gary Peeters)