The first Versace boutique was opened in Milan’s Via della Spiga in 1978. In 1994, the brand gained widespread international coverage due to the “Black Versace dress of Elizabeth Hurley”, referred to at the time as “that dress”.
After the death of Gianni Versace in 1997 his sister Donatella Versace, formerly vice-president, took over as creative director and his older brother Santo Versace became CEO. Donatella’s daughter Allegra Versace was left a 50 percent stake in the company, which she assumed control of on her eighteenth birthday.
In February 2014 The Blackstone Group purchased a 20 percent stake in Versace for €210 million.
As of August 2013, more than 80 boutiques operate worldwide; the first boutique outside of Italy was opened in Glasgow, Scotland in 1991.