Blackstone buys 20 % stake in Versace | RetailDetail

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


EU votes for better organic label legislation

20/04/2018

European Parliament adopted a bill to regulate the organic industry: things will be stricter, but also fairer and clearer. An organic label and importation legislation should help promote Europe’s local organic manufacturing companies.

Heineken and Bavaria seek fortune outside of Europe

19/04/2018

Even though the European beer market continues to struggle, Dutch brewery groups Heineken and Bavaria have published growing turnovers. Bavaria set a record turnover, Heineken raised its turnover 4.3 % in the past quarter.

Danone boasts strongest like-for-like turnover increase in past five years

19/04/2018

French food giant Danone’s first quarter was an impressive one: like-for-like turnover grew 4.9 %, its best performance in the past five years.

Weak dollar has negative impact on Unilever

19/04/2018

Unilever has seen its first quarter turnover drop more than 5 % because of negative exchange rate fluctuations. Excluding that impact, the food and care product manufacturer’s turnover would have grown 3.4 %.

End in sight for price dispute between Nestlé and Colruyt, Edeka and Intermarché?

17/04/2018

ColruytEdeka and Intermarché are approaching a deal in their price dispute with Nestlé. The Swiss food manufacturer will make concessions in a new proposal as the retailers’ supplies are dwindling.

Carrefour and E.Leclerc start arms race for urban pick-up locations

17/04/2018

The French e-commerce market has seemingly opened up a new area of competition: Carrefour and E.Leclerc have both opened so-called “drives piéton”, pick-up locations for pedestrians in urban centers.