Versace's niece turns 18, inherits half of company
MILAN, Italy (AP) ? Gianni Versace's niece Allegra Beck turned 18 on Wednesday and took possession of the inheritance from her late uncle ? half the fashion house.
The 50% stake in the company had been held in trust since Versace was gunned down at his Miami Beach mansion in 1997, when Allegra was 11. She is the daughter of Versace's sister Donatella, the company's designer, and former model Paul Beck.
While the fashion house has remained under family control, it is laden with debt. The Versace empire, including real-estate holdings, is worth about 200 million euros ($240 million), La Repubblica newspaper reported Wednesday.
Before his death, Gianni Versace had planned to list the company on the stock market, but that was placed on hold until Allegra's 18th birthday.
MILAN, Italy (AP) ? Gianni Versace's niece Allegra Beck turned 18 on Wednesday and took possession of the inheritance from her late uncle ? half the fashion house.
The 50% stake in the company had been held in trust since Versace was gunned down at his Miami Beach mansion in 1997, when Allegra was 11. She is the daughter of Versace's sister Donatella, the company's designer, and former model Paul Beck.
While the fashion house has remained under family control, it is laden with debt. The Versace empire, including real-estate holdings, is worth about 200 million euros ($240 million), La Repubblica newspaper reported Wednesday.
Before his death, Gianni Versace had planned to list the company on the stock market, but that was placed on hold until Allegra's 18th birthday.
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