×
67 387
Fashion Jobs
ON RUNNING
Sales Representative
Permanent · BOSTON
MACY'S
Manager, Merchandise Execution
Permanent · New York
MACY'S
Asset Protection Officer, Goodyear - Full Time (2840)
Permanent · Goodyear
MACY'S
Asset Protection Detective, Cross County - Full Time
Permanent · Yonkers
MACY'S
Asset Protection Detective, Bay Fair - Part Time
Permanent · San Leandro
MACY'S
Asset Protection Detective, Queens Center - Part Time
Permanent · New York
MACY'S
Manager, Operations
Permanent · Miami
MACY'S
Asset Protection Detective, Thousand Oaks - Part Time
Permanent · Thousand Oaks
MACY'S
Manager, Operations Sun-Wed 6:30pm-5:00am
Permanent · Portland
MACY'S
Asset Protection Detective, Rosedale Center - Full Time
Permanent · Roseville
TJ MAXX
Overnight D/C Loss Prevention Specialist
Permanent · Pittston
ROSS STORES
Store Protection Specialist
Permanent · Novato
ROSS STORES
Store Protection Specialist
Permanent · Dallas
TAPESTRY
Area Manager
Permanent · Boston
SALLY BEAUTY CORPORATE
Outside Sales Representative - Cosmoprof
Permanent · Ottawa
ASCENA
Part Time Manager Ann Taylor Factory Birch Run, mi
Permanent · Birch Run
ASCENA
District Manager - Ann Taylor, il/mi
Permanent · Lockport
ASCENA
District Manager, Ann Taylor Loft Factory Outlet - Georgia
Permanent · Peachtree City
NORDSTROM
Program Manager 2 - Price Strategy
Permanent · Seattle
NORDSTROM
General Manager- Cafe Nordstrom- Downtown Portland
Permanent · Portland
NORDSTROM
Area Manager - Training - Portland, or
Permanent · Portland
NORDSTROM
Operations Manager Outbound – Sat-Mon 6pm-6am Shift – Elizabethtown, PA
Permanent · Elizabethtown
By
Reuters
Published
Dec 17, 2013
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Two investors lead race for Versace minority stake

By
Reuters
Published
Dec 17, 2013

MILAN, Italy - An Italian state-backed fund and private equity firm CCMP Capital are the leading candidates to buy a stake in fashion house Versace, sources familiar with the matter said.

Versace Homme | Source: Versace

The Italian luxury goods group is selling a stake of around 20 percent ahead of a possible stock market listing in three to five years, with the aim of raising funds to open more shops internationally and develop its clothing and accessories ranges.

It hopes to have a shortlist of three investors by Christmas and to complete the sale in the first quarter of 2014, the sources said.

Chairman and core shareholder Santo Versace said in November a new investor could emerge by Christmas.

Versace, like fellow Italian brands Armani and Missoni, is still owned by the family of its founder, Gianni Versace, who died in 1997.

By opening up to an eventual listing, it could follow fashion market success stories like Salvatore Ferragamo (SFER.MI) which listed publicly in 2011 and has seen its shares treble in value.

Investors showed their appetite for luxury companies again on Wednesday when Moncler, maker of 1,200 euro quilted jackets, priced a share sale at the top of its price range.

Italy's state-backed Fondo Strategico Italiano (FSI) is keen to secure the Versace stake and would put in an offer valuing the whole company at 1.1 billion euros ($1.5 billion), people familiar with the situation have said.

One of CCMP's senior advisers, Robert Singer, is one of three board members at Versace who do not belong to the founder's family.

French private equity firm Ardian and Bahrain-based fund Investcorp INVB.BH are the most likely bidders to join CCMP and FSI on the shortlist, the sources said.

Italian private equity firm Clessidra has also said it is interested the stake. Sources say other bidders include private equity firms Blackstone (BX.N) and Permira.

Permira, which bought and then sold Italian fashion house Valentino and recently added British boot brand Dr Martens to its portfolio, is less likely to secure the stake as it would want to be involved in running the company, while Versace is looking for a financial rather than an industrial partner, sources say.

Ardian, Blackstone, CCMP, FSI, Investcorp and Permira declined to comment.

($1 = 0.7271 euros)

(Writing by Isla Binnie; Editing by Mark Potter)

© Thomson Reuters 2022 All rights reserved.