IPO's have been a major topic of conversation recently. Michael Kors and Prada successfully went public a little while back and of course, the controversy surrounding Facebook's entry onto the stock market has meant that it's a topic that's not going away any time soon. Now it looks like Versace might follow suit.
It's no secret that the family-owned business flirted with the idea of going public back in 1997 but after the death of Gianni Versace and a string of financial problems, any such discussions fell apart. But things are really turning around for the house. This year marked the first time it has been profitable since 2009, which it marked with a return to couture in January after an eight-year hiatus. If there was ever a time to appeal to potential investors, then, it's now.
The brand is ticking all of the boxes that investors are looking for right now, a Milan-based analyst told WWD. It has the global appeal, the Atelier range attract to the big spenders and their international stores are dramatically increasing - but the family don't seem convinced on the idea. In response to the current speculation, Gian Giacomo Ferraris, the label's CEO, said that nothing is set in stone. 'The family is evaluating possible alternatives, talking to advisers and banks, together with the management, but is not seeking a partner,' he told WWD. 'The family has no intention to sell shares. It wants to be entirely independent and maintain 100 percent control over the company.'