Gianni Versace S.P.A. is in the process of selling a minority stake privately, before a public offering will be made in three to five years.
Versace's CEO, Gian Giacomo Ferraris, confirmed the news yesterday at a conference where he proclaimed the company's plans to open a hotel in Macau, China. According to sources at Bloomberg, Ferraris declined to share who the potential investors might be.
Irrespective of what transpires as a result of the sale, the Versace family will continue to control most of the business. Santo Versace will still own 30 %, Donatella Versace will own 20 %, and Donatella's daughter, Allegra Versace Beck, will remain with a 50 % holding.
In April, Ferraris said that the company would only consider going public when the brand's sales reach between $659.50 million to $790.86 million. In 2012, Versace earned $538.7 million.
To learn more about Versace, please visit www.versace.com. Images from the Mens Spring 2014 show can be seen in the slideshow.