Fashion industry awaits Versace stock market decision | WPN World People News

The renowned Italian fashion house Versace is to consider taking in outside investors.

Family-owned Versace has said it will consider an initial public offering and other options to fund growth as it goes forward in the luxury industry.

Executives at the company have recently been buoyed by sizeable profits, which were turned around last year after successful fashion showings.

While the family has tried to hold back on allowing outsiders to penetrate its business, some other luxury icons have been enticed to offer shares.

In less than a year Prada, Salvatore Ferragamo and Brunello Cucinelli have made appearances on stock markets.

Versace announced on Friday it had chosen Goldman Sachs to explore partnerships and other financial avenues.

Source: Europe News.Net