Newsweek’s Take On Versace: Good Stuff

Think long-form journalism is dead? In fashion, I’d argue that it’s never truly been alive. But it doesn’t have to be that way, as Paris-based journalist Dana Thomas’ piece for Newsweek on Versace proves. It’s a critical piece that doesn’t shy away from the truth of the matter: that this company is in deep trouble financially and aesthetically. I would have liked to see more colorful analysis on the current business–most of the numbers are from reporting Thomas seems to have done in the 1990s, and she doesn’t detail the differences between the brand’s current style vs. its look while Gianni was alive–but overall, it’s a good read. Here’s the best bit:

All agree that the Versace name still has value, even if consumers no longer know what it stands for. Many in the fashion industry believe it’s time for the brand to continue without Versace family involvement—and some suggest that the family is starting to accept this idea too. Last year, Santo was elected to the Italian Parliament. Allegra has been attending Brown University and has said her dream is to become an actress. And will Donatella remain at the helm? “Maybe,” says the former Versace executive. “Then again, maybe not.” Which, after a decade of turmoil, may be the best thing for the company after all.

If you like this piece, I suggest picking up Thomas’ book Deluxe: How Luxury Lost Its Luster.