Pursuits
Versace to Sell Minority Stake Privately Ahead of IPO, CEO Says
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Gianni Versace SpA, the Italian luxury-goods maker weighing options to pay for growth, said it plans to sell a minority stake privately before selling shares to the public in three to five years.
“We decided to open a minority stake sale” before an initial public offering, Chief Executive Officer Gian Giacomo Ferraris said today in Macau, where the Milan, Italy-based company unveiled plans to open a hotel in 2017. “We’re well on track for this,” he said, declining to specify Versace had started talks with potential investors.