Italian fashion house Gianni Versace SpA, which wants to expand abroad, is evaluating whether to go public or sell a stake in the company, according to news reports.
Donatella Versace, sister of the late founder Gianni Versace, is the chief designer.
The
Financial Times
reported
that the Versace family could use the proceeds from an IPO to repay debts incurred to fund a restructuring of the company. The company restructured its retail and wholesale units in 2009 and returned to profitability in 2011, the
FT
article said.
CEO Gian Giacomo Ferraris said Versace is overhauling its internal financial reporting, IT and transparency procedures so as to supply “regular, reliable financial data to those who may wish to access it,” the
FT
article said. (Source:
Financial Times,
April 5, 2013.)
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