Versace family to receive €150m

The Versace family, which currently owns 80 per cent of the fashion house via a holding company called Givi, will receive €150 million (Dh649 million) of the purchase price in Capri shares. “We believe that being part of this group is essential to Versace’s long-term success. My passion has never been stronger,” said Donatella Versace, sister of the company’s late founder, and artistic director and vice-president of the Milan-based group. After the deal, Versace CEO Jonathan Akeroyd will remain at the helm of the company, while Donatella Versace will “continue to lead the company’s creative vision”, Idol added.