Versace profits rose by 27 per cent to €23.6m last year

Private equity Group Blackstone bought 20 per cent stake in Versace luxury brand, rose by 16.9 percent to €548.7m in which private equity group. Blackstone investment enabled Versace to open 40 stores in 2014 and accelerated their expansion program, as they plan to open a further 30 stores in 2015 including stores in Vancouver Madrid, Japan and US. Versace wants to go public as the profits soar for the second year it brings IPO closer. Potential investors are gearing up to pounce on Versace shares, and may have to wait a little longer. 

“We are keeping made in Italy high” according to Versace CEO Gian Giacomo Ferraris.