Versace could pick the U.S. or Asia for IPO
Versace Group, in which private equity group Blackstone bought a 20 per cent stake in 2014, is preparing an IPO expected early next year.
“The (IPO’s) goal is to ensure the long-term prospects of the company and reduce its dependence on the family,” CEO Giangiacomo Ferraris told Reuters
Versace expects to close 2015 with sales of more than €630 million euros up from €549 million last year. China and Russia are the major concern for the Italian luxury house.
Ferraris declined to give a timing for the float, saying it depended on external factors such as market conditions.“But we’re seriously working towards it,” he told reporters on the sidelines of an event. “We want to be ready.”