The question of who owns the Versace Hotel, more formally known as Casa Casuarina or the Versace Mansion, is intertwined with the complex history of the Versace brand itself. While the iconic Miami Beach property is no longer directly associated with the Versace fashion house, understanding its ownership requires delving into the ownership structure of the brand and the subsequent sale of the mansion. This exploration will address not only the ownership of the hotel but also the broader questions surrounding the Versace brand's current ownership and leadership.
Who Owns the Versace Mansion?
The Versace Mansion, a stunning Mediterranean Revival-style villa, was famously owned by Gianni Versace, the founder of the Versace fashion empire, from 1992 until his tragic murder on the steps of the mansion in 1997. Following his death, his sister Donatella Versace inherited the property, along with a significant portion of the Versace brand. However, Donatella did not retain ownership of the mansion for long. In 2000, it was sold to Peter Loftin, a real estate developer, for $19 million. Loftin, in turn, sold it to the Nakash family, owners of the Jordache Enterprises clothing company, in 2013 for $41.5 million. The Nakash family undertook extensive renovations and reopened the property as a luxury hotel, The Villa Casa Casuarina, in 2015. The hotel was later sold again in 2018 to a group led by developer and investor, Todd Michael Glaser, for $75 million. This group, comprised of several investors, is the current owner of the former Versace Mansion which now operates under the name "The Villa Casa Casuarina". Therefore, there isn't a single owner, but rather a group of investors.
This history highlights the separation between the Versace brand and the Versace Mansion. While Gianni Versace owned both, after his death, the ownership paths diverged. The mansion's ownership has passed through several hands, driven by real estate transactions rather than remaining within the Versace family or company.
Who Owns the Versace Company?
The Versace brand's ownership is a distinct but related story. Gianni Versace founded the company in 1978, and upon his death, his sister Donatella Versace inherited a significant portion of the company's ownership. However, the structure is more intricate than a simple sole proprietorship.
Who Owns Versace Company Now?
The Versace brand is currently owned by Capri Holdings Limited, a New York Stock Exchange-listed luxury goods conglomerate. Capri Holdings also owns Michael Kors and Jimmy Choo. In 2018, Capri Holdings acquired a majority stake in Versace for approximately $2.12 billion, marking a significant shift in the company's ownership structure. This acquisition ended the Versace family's majority ownership, although Donatella Versace remains a key figure within the company, serving as the Creative Director. Therefore, the answer to "who owns Versace now" is Capri Holdings Limited, a publicly traded company.
Who Runs Versace Today?
While Capri Holdings Limited owns the Versace brand, the day-to-day operations and creative direction are largely overseen by Donatella Versace. She continues to be the creative director, wielding significant influence over the brand's aesthetic and product lines. This demonstrates a unique arrangement where the legacy of the founding family remains intertwined with the corporate ownership structure. Although Donatella does not have majority ownership, her role ensures a degree of continuity and adherence to the brand's original vision. The operational management, however, is handled by Capri Holdings' executive team, integrating Versace's operations into the larger corporate structure.
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