Few names are as recognizable as Versace, as not only have the family dominated the fashion industry, but they have also been at the center of some high-profile scandals (and murders). And while the Versace brand still packs some kind of punch, it might not be worth investing your money if you want to buy luxury. The brand’s high-end profile happens to have deteriorated in recent years, with its exclusive side taking a turn in 2011. As noted by PopSugar, things started to go a little south for Versace when its collection with H&M is out. While we love the accessibility, the appeal of buying a designer is the special, casual look that comes with it. Being able to buy “Versace” in an everyday store like H&M definitely altered the appeal, although Donatella Versace said it captured the essence of the brand.
“For the collaboration we brought back from the archives, as well as more recent collections, some of Versace’s icons, such as the bright prints, the Greek key and the bold cuts,” she said.
If the H&M collection was not a sign that the brand was running out of steam on the luxury front, Versace had yet another nail in its coffin when it was acquired by Michael Kors. As Vogue noted, it was acquired for $2.12 billion, but any revitalization was slim. Even Business Insider claimed that Michael Kors “has lost its luster” – so if you’re a shopping designer, look elsewhere.