Donatella Versace Net Worth: $400 Million
Donatella Versace has a net worth of $400 million and is an Italian fashion designer. Donatella is the younger sister of famous designer Gianni Versace and inherited control of his company Versace after a tragic murder in 1997.
She was the CEO, chief creative officer and artistic director of Versace and was instrumental in selling the company to Michael Kors for $2.12 billion in 2018.
Donatella Versace was born on May 2, 1955 in Reggio di Calabria, Italy to Donatella Francesca Versace. She grew up with Francesca’s mother (a seamstress), Antonio’s father (a salesman) and three older brothers, Gianni, Santo and Tina.
How much money does Versace have?
His fashion career began in his hometown, at the Francesca Versace fashion studio, which was then run by his mother. The studio’s main clientele were representatives of wealthy families in the Calabria region – the spouses of industrialists and top executives, to name a few. Gianni helped his mother sew garments, acquire accessories, and source materials.
During his time at this school he learned how to design, draw, cut materials and make garments. Versace moved to Milan in 1972, where he worked as a guest designer for various ready-to-wear labels including Genny, Callaghan and Complice, among others. After joining the Genny fashion company in 1973, he was appointed designer of Byblos, the company’s youth line, and in 1977 launched the Complice line on his own initiative.
Donatella Versace is an Italian fashion designer who has a net worth of $400 million. Donatella Versace is a fashion designer who, among her other roles, also serves as Senior Creative Director of Versace, a subsidiary of Capri Holdings. She is the sister of Gianni Versace, the fashion designer who was murdered and founded Versace.
She had originally planned to work with her brother in public relations, but Gianni saw her as a much more important asset than she had anticipated. She soon became his muse and critic, giving her an opportunity to prepare for a more prominent position.
Where does Donatella Versace live?
Donatella Versace returns to Lake Como with exciting news: she recently bought Villa Mondadori, which overlooks the lake.
It has been 11 years since Arkady Novikov, a Russian real estate entrepreneur, bought Gianni Versace’s villa in Moltrasio (Como) for €33 million, according to public records. It took place in spring 2008 and was one of the most important transactions on Lago di Como. The family of the famous fashion designer who died in 1997 decided to return to the lake and this time chose Lake Maggiore as the place for their reunion.
The property, a large antique pale pink mansion with an area of 1,400 square meters, directly overlooks the lake and is surrounded by gardens. In addition to the courtyard, garage and swimming pool, the property has at least 50 rooms, including 20 bedrooms and 12 bathrooms, as well as a swimming pool.
Versace has hired Donatella to develop ad campaigns for her and she has done so with Madonna, Christina Aguilera, Jonathan Rhys Meyers, Demi Moore, Nicki Minaj and Lady Gaga, bringing fame to Beyoncé and January Jones in the process.
She was the designer of Jennifer Lopez’s green Versace dress, widely known as the “Jungle Dress,” which she wore to the 42nd Grammy Awards in 2000, where she received a standing ovation. In 2015, she starred in the AW15 ad campaign for Givenchy, the brand’s main competitor.
Who owns Versace?
Since May 2016, Versace has been owned by Jonathan Akeroyd, the former manager of Alexander McQueen who was previously in charge of the brand. In 2016, the company generated sales of over 670 million dollars.
Since 2016, Versace has opened 38 new locations worldwide. The most recent outlet debuted in Spring 2017. Donatella Versace announced in early 2018 that she would no longer use fur in her creations.
After being bought by the Michael Kors group of companies in September 2018, Versace was sold for 1.8 billion dollars.
The new collection appears to have been specially designed for the American market, with short dresses and mini-skirts in bright colors, lots of vinyl and tight black one-shoulder evening dresses instead of the opulent, over-the-top style with gold and lots of pomp that’s for the season in Europe become a tradition.
The company’s chief designer is the sister of the legendary company founder, Gianni, and the company’s second brother, Santo, was CEO until 2003, after which the company was run by outside CEOs. This year marks the 40th anniversary of Donatella Versace’s birthday. With her long bleached blonde hair and toned physique, Donatella is the face of the company, which was founded in 1978.
Versace was valued at €1 billion at the time the Blackstone Group acquired a 20 percent stake in the company in early 2014. With the shares acquired from the Versace family for 60 million dollars, an additional investment of 150 million dollars is linked to the purchase.