Blackstone buys 20 % stake in Versace

Blackstone buys 20 % stake in Versace

Private investment fund Blackstone will buy 20 % of Versace’s shares through a capital injection into the fashion company.

Family will keep control

Blackstone will invest 205.8 million dollars (150 million euro) into Versace, which the company will use the additional funds to continue its international expansion, from 137 stores nowadays to 200 stores within the next three years. In return, Blackstone will get 82.3 million dollars (60 million euro) in shares, the equivalent of 20 % of the shares, keeping the Versace family in full control.

 

Donatella Versace, the creative director, currently has 20 % of the shares, with Santo Versace (the president) in control of another 30 % of the shares. Donatella’s daughter currently owns 50 % of the stock, but because of Blackstone’s investment, there will be some shuffling in the percentages each party owns at this point.

Questions or comments? Please feel free to contact the editors


Twelfth straight growth quarter for Walmart

17/08/2017

American supermarket chain Walmart has surpassed analysts’ expectations for the previous quarter, the company’s twelfth straight growth quarter. The world’s largest supermarket chain especially benefited from a strong online growth.

FrieslandCampina sells fruit juice division

17/08/2017

Dairy company FrieslandCampina has sold its fruit juice division, which also contained the Appelsientje brand to Dutch investment firm Standard Investment.

Carlsberg's turnover increases despite lower volumes

16/08/2017

In the first half of the year, Danish beer brewer Carlsberg’s turnover grew 2 % to 31.8 billion krona (4.3 billion euro). The improves sales for its more expensive beers, like Grimbergen, contributed to this turnover increase.

Losses keep growing for HelloFresh

14/08/2017

In the first half of 2017, meal box delivery service HelloFresh has seen both its turnover and its losses grow significantly. This gives mixed messages in the preparation of its IPO, which is planned this fall to create room for more investments.

Italian gelato is European market leader

11/08/2017

Italian cuisine is revered all across the globe, with people often thinking of pizza and pasta. However, Italians also have an ironclad reputation when it comes to ice cream. This is also reflected in sales, as Italians are the European market leader.

Oprah Winfrey and Kraft Heinz join forces

10/08/2017

American tv star Oprah Winfrey has joined forces with Kraft Heinz to develop a range of “healthy and nutritious soups and side dishes”. The range, currently only available in the United States, should help Kraft Heinz generate turnover growth once more.

Back to top