Marco Bizzarri is among the possible buyers of Versace

After the blocking of the merger between Capri Holdings and Tapestry, the future of Versace is uncertain. Since last autumn, when the United States interrupted the $8.5 billion deal in October, the rumours about the sale of the brand have increased. Versace, in the hands of Capri Holdings since 2019, is experiencing low sales that are damaging the group's overall revenue. While initially, the main parties interested in acquiring Versace were the Italian Exor, owned by John Elkann, and Kering, over the months new names have emerged. Among these are Prada Group, which had previously attempted to create a luxury conglomerate on the scale of LVMH, but also Marco Bizzarri, former CEO of Gucci, who, according to the latest reports, is working to raise funds to invest in the house founded by Gianni Versace. 

After leaving Gucci, Bizzarri launched a career as an independent investor, so the acquisition of Versace could be a good starting point for the former President of Gucci. The auction for the brand started with fifteen interested parties, according to WWD, but now it has halved. More information will be known in early February, after another round of bids. Also in February, Donatella Versace's contract, creative director of the brand since 1998, will expire. It is thought that Exor, despite being initially interested in the house, has decided to pull out of the auction, while London-based investment firm Permira and Investcorp from the United Arab Emirates have joined. Prada Group is still interested, anonymous sources report, even though initially it was believed that the company had approached the case just to observe a competitor more closely. Like Bizzarri, the group founded by Miuccia Prada and Patrizio Bertelli would have all the right credentials – and connections – to put Versace back on the right track. Moreover, another gossip has emerged regarding the possible buyers of Versace: Dario Vitale, former design director for Miu Miu, could take the place of Donatella Versace.