To celebrate Pride Month 2022, which started on June 1, Versace has decided to kickstart The Versace Foundation. The global fashion luxury group Capri Holdings Limited, which owns the Italian luxury label, has pledged $10 million to the newly set foundation.
In a press release made by the label on June 1, 2022, Capri Holdings and the Italian luxury boutique revealed their plans for celebrating the Pride Month. After their previous year's celebration with Lady Gaga for the Born This Way collection, Versace has upped their game significantly this year.
More about the newly launched The Versace Foundation to honor Pride Month 2022
Capri Holdings Limited, formerly known as Michael Kors Holdings Limited, is a global fashion group that owns iconic brands Versace, Michael Kors, and Jimmy Choo is helping Versace celebrate Pride Month 2022.
The Versace Foundation, launched by Donatella Versace, supports wellness, safety, and equality for the LGBTQIA+ community. Capri Holdings helped foster the foundation's mission of promoting and supporting the program with a pledge of $10 million.
The foundation will launch activities and projects designed to generate support and awareness for the LGTBQIA+ community. According to the press release made by the label, the foundation will be engaging with community groups and joining hands with philanthropic organizations to preserve the LGBTQIA+ history and culture.
In addition to the aforementioned details, the foundation will also promote the advancement of wellness, safety, and equality of the LGBTQIA+ community.
In a press release made by the label, Chief Creative Officer of the Versace label, Donatella Versace, said,
"I'm proud that Versace has always been known for its inclusivity. I am excited for the support and assistance The Versace Foundation will bring to the LGTBQIA+ community."
In the aforementioned press release, Chairman and Chief Executive Officer of Capri Holdings, John D. Idol, further talks about the new initiative,
"We are please to announce the creation of The Versace Foundation. We all have a right to be accepted, to be loved and to be our most authentic selves. The Versace Foundation enables us to further our pursuit of the LGTBQIA+ equity, wellness and safety, as well as to continue to be an ally for LGBTQIA+ individuals."
The Italian luxury label has always been involved in the celebrations of the pride month. For the previous iterations of the Pride month, the brand has launched relevant merchandise and dedicated collections, with sales going towards charities.
For instance, in 2021, the Versace x Pride collection was made in collaboration with Lady Gaga. The collection was to celebrate the star's Born This Way album in addition to celebrating Pride month.
In the collection, the brand launched berets, tees, and more, out of which 30% of the proceeds went to the Born This Way foundation. Further, the duo launched a contest for winning a replica of the leather jacket worn by Gaga. The auction's donations also went towards the Born This Way foundation.
The iconic jacket dates to 2011 when the singer wore Versace vintage for The Edge of Glory music video and the Born This Way tour.
A year before, in 2020, the Versace x Pride collection helped the Arcigay in Europe and Pride Live in the US.