Santo Versace is an Italian businessman and politician who has a net worth of $400 million. Santo Versace is an Italian businessman and politician who has a net worth of $400 million. As of May 2020, Versace net worth is around $3 billion.
Versace designed clothes for famous people like Michael Jackson and Elton John, and this was a great achievement because his designs are head-turning. and Miuiccia
Widely regarded as one of the world's most influential luxury blogs, Luxatic.com engages the finest connoisseurs with the content that speaks to their passions. Versace died at age 50, leaving half his fashion empire to his niece, Allegra. We track celebrity net worth so you don't have to. Online estimates of Versace Dos’s net worth vary. Giorgio Armani This brand is known for its unique designs over the years, the company was acquired by Michael Kors Holdings for $2.12 billion in December 2018, but kept Donatella Versace as the head of creative designs. They use the same models in their ads and runway. "It has been more than 20 years since I took over the company along with my brother Santo and daughter Allegra," Donatella said in a statement. The Blackstone family bought twenty percent of Versace for 210 million Euros.Â The Versace group is said to have 1500 boutiques in operation globally, the first boutique located outside Italy was opened in 1991 in Glasgow, Scotland. Versace was worth $2.12 in 2018 when it was acquired by Michael Kors. His breakthrough video titled “Haffa Guzz” was about picking up girls. Santo Versace served as a member of the Parliamentary Commission for Trade, Tourism and Productive Activities from May 2008 to October 2011. Spokespeople for Versace and FSI didn't respond to Forbes' requests for comment. Past experience suggests a global luxury brand should command a 12 to 14 times ebitda multiple, Feller said.
In 2018, one hundred percent of Versace and Blackstone were sold to the Michael Kors Limited Group.Â They joined Capri Holdings together with Jimmy Choo and Michael Kors to form a new fashion luxury big group. Donatella owned a 20-percent share of the business prior to the Blackstone investment. Edward Norton. Her brother, Santo Versace, reportedly owned 30 percent of the company before the Blackstone sale, and her daughter, 31-year-old Allegra, had the remaining 50 percent of the company stock. It was just announced that Michael Kors would acquire Versace's family company for $2.12 billion.
While it’s relatively simple to predict his income, it’s harder to know how much Versace has spent over the years. Donatella Versace, whose late brother Gianni founded the company in 1978, will stay on as Creative Director.
Swedish social media star and artist known professionally as Don V; he became famous for his Versace Dos YouTube channel. The company was recently valued at $1.7 billion. Chance The Rapper Net Worth 2020 – How Rich is Chance The Rapper? Versace Dos is a Capricorn and was born in The Year of the Serpent. Santo Domenico Versace is an Italian businessman and politician, who serves as the president and co-CEO of Milan-based Gianni Versace SpA, a luxury fashion company, founded by Gianni Versace, a renowned fashion designer and Santo’s brother. In order to wear an original Versace merchandise, you have to part with a good amount of money, because designers like this can be afforded by a few, Afterall luxury goes hand in hand with wealth.
Versace was independent and controlled everything on his brand, from retailing to designing.
He has garnered popularity there for his sometimes controversial views on street interviews, challenges, pranks, and reactions. Here's how much controlling the Versace empire has earned her. He is 19 years old and is a Capricorn. Using the most conservative numbers, the luxury retailer would be worth €2.8 billion ($3.8 billion), giving Allegra a net worth of $1.5 billion, and valuing Santo at $912 million. Italy’s state-owned private equity fund is reportedly in advanced talks to purchase a 20% stake in luxury fashion retailer Gianni Versace, which would result in several members of the designer’s family joining the ranks of the billionaires. From October 2011 to March 2013 he was a member of the Parliamentary Commission for Finance. Former Forbes staffer, now Digital Director for Perfil in Argentina, Live: What The Presidential Election Results Mean For Your Money, EY & Citi On The Importance Of Resilience And Innovation, Impact 50: Investors Seeking Profit — And Pushing For Change. Santo Versace. Santo Versace served as the Chief Executive Officer of Gianna Versace S.p.A from 1997 to 2004. The Versaces would join a host of other "fashion billionaires," many of them Italian. Being a private company, Versace isn’t forced to disclose its financials, yet the FT report suggests the company had an EBTIDA of about $480 million last year. The acquisition, which is also backed by Qatar’s sovereign wealth fund, would value the Versace brand at about $5.76 billion, which, at more than 10 times annual sales, seems quite high when compared to other names in the space.
"I am proud that Versace remains very strong in both fashion and modern culture. 0 814 . Capricorn is ruled by taskmaster Saturn, the stoic planet that governs time and restrictions.
Gianni Versace Wiki Biography. UPDATE: As mentioned above, the valuation suggested by the article in the Financial Times appears high, particularly when looked at from a sales multiple perspective. Versace was worth $2.12 in 2018 when it was acquired by Michael Kors. In 2016, Jonathan Akeryod was appointed by the Versace group as the overall CEO. Since then, Ferraris has supercharged growth, with the company seeing 2012 revenues jump 20% to $553.8 million on the back of surging global sales, which gained approximately 40% to $304.2 million as North American revenues doubled. From record breaking pieces of contemporary art to lavish real estate purchases, the price of anything premium seems to have nowhere to go but up. In 1992 he designed stage costumes for Elton John album cover, he also designed for Princess of Caroline of Monaco and Princess of Wales. Save my name, email, and website in this browser for the next time I comment. The famed luxury brand was on the edge of bankruptcy in 2009, when the company hired Gian Giacomo Ferraris as CEO. At his prime, the famous designer was murdered on the steps of his Miami mansion in 1997 by spree killer Andrew Cunanan, who shot himself with same gun a few days later. The 63-year-old native of Calabria, Italy led the fashion brand to new heights with a valuation that was last reported at around $1.4 billion in 2014, when Blackstone Group purchased a 20-percent stake in the company, according to the New York Times.
Prada Versace Dos (born January 6, 2001) is famous for being youtuber. Santo Versace is a member of Executives We track celebrity net worth so you don't have to. The late Gianni Versace was the founder of the Versace company; he designed his first collections in 1972 for Callaghan, Complice, and Genny. Santo Versace net worth: Santo Versace is an Italian businessman and politician who has a net worth of $400 million. "Looking at other press reports on the Versace sale, particularly at the WSJ, it seems to me like €250 million for a 20% stake makes much more sense," explained Howard Feller, partner at MMG, a banking and consulting firm specialized in fashion. Versace was the President of the National Assembly for the Act to Stop the Decline from May 2014 to May 2015.
Santo Versace net worth: Santo Versace is an Italian businessman and politician who has a net worth of $400 million. , and Burberry all trade at multiples ranging from 3 to 6.3 times sales, while other luxury names like Bernard Arnault’s LVMH trades at 2.4 times sales; Sotheby’s trades at 4.5 times sales.
The education details are not available at this time. At the death of the founder of Versace, Gianni Versace was worth $1 billion. ), Donatella has been the public face of the brand since her brother's murder in 1997, serving as both the company's chief designer and vice president.