Blackstone takes Versace stake

A sign is seen for a high-end retail store along 5th Avenue in New YorkThe Blackstone private equity firm has taken a 20-percent stake in the Versace fashion house with a 210 million-euro ($287 million) capital injection. Versace fashion house CEO Gian Giacomo Ferraris said by telephone Thursday the investment will help Versace prepare for a long-planned public listing in the next three to five years by ensuring “discipline.” Ferraris said the cash will be used to open more Versace stores, expand the other Versace brands like Versus and accessories…

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