As of last Thursday Gianni Versace’s palatial Miami villa was put on the market and is expected to sell for more than $50 million. According to Lamar Fischer, the president of the Fischer Auction Company which is handling the sale, the property is expected to sell very quickly, maybe in 30 minutes.
“You never know for sure in these cases but you could say that the real estate value of the property is certainly above $50 million, so we expect the price to go higher than that,” says Fischer. The current owner of the villa had transformed the property into a boutique hotel.
D&G’s Protest
In response to public outrage over their tax evasion conviction, Dolce and Gabbana closed their Milan stores for three days, starting on this past Friday. The words “Closed” were vividly placed on the store window of the D&G signature store in Milan.
“We are no longer willing to suffer undeservedly the accusations of the financial police and the income revenue authority, attacks from public ministers and the media pillory we have already been subjected to for years,” stated the design pair. Domenico Dolce and Stefano Gabbana were given a 20-month jail sentence for tax evasion on royalties (1.3 billion) after selling their brand to a Luxembourg-based holding company.
The 250-plus employees will continue to be paid while the nine Milan stores are closed. The iconic design team’s attorneys expect to appeal the decision and because the appeal process is lengthy and complicated, Domenico Dolce and Stefano Gabbana are expected to spend no time in prison.
Casablancas Dies
John Casablancas, founder of Elite Models, died Friday of cancer in Rio de Janeiro. Casablancas launched Elite Models in 1972 and helped launch the careers of Iman, Heidi Klum, Gisele Bündchen, Cindy Crawford, Naomi Campbell, and many more.
Casablancas was instrumental in elevating models from just beautiful women on catwalks and in photo editorials to celebrity status. “[Casablancas] was largely responsible for glamorizing the business and turning models into idols, their egos expanding in direct proportion to their earnings potential,” said The New York Times in its obituary.
John Casablancas is survived by his wife Aline Wermelinger, a brother, Fernando and five children from two marriages: John Jr., Fernando Augusto, Nina, Cecile and Julian Casablancas. Casablancas was 70 years old.
—William S. Gooch
This is very sad, can’t believe D&G is about to be shuttered as company.
This is very sad, can’t believe D&G is about to be shuttered as company.
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