Italy's Versace in 'no rush' to list on stock market: CEO
today Jan 15, 2018
Italian fashion house Versace is in "no rush" to list on the stock market, its Chief Executive told Reuters on Saturday.
The brand, famous for its Medusa head logo, has been considering a listing, after U.S. private equity Blackstone bought a 20 percent stake in 2014 to fund its overseas expansion.
The Versace family holds the rest of the company, and Donatella, sister of late founder Gianni, doubles as artistic director and vice-president of the Milan-based group.
Asked about a possible initial public offering (IPO), CEO Jonathan Akeroyd said, "We've been working a lot ... There is no rush."
"It's an amazing company. There is a lot to do," he added, before a show of its men's collection for autumn-winter 2018, without giving further details.
Versace posted sales of just under 670 million euros ($817.00 million) in 2016.
Akeroyd, formerly head of British brand Alexander McQueen, took over as CEO of Versace in May 2016 from his Italian predecessor Gian Giacomo Ferraris.
Since his appointment the group has been working on streamlining its management structure.
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