Versace Predicts Strong Sales Growth
After three years of losses, iconic fashion house Versace is on the rise. The company posted a profit for 2011 and predicts three years of strong sales growth.
The label attributes the growth partly to more brand awareness. Last November, the Versace collection for H&M sold out within hours. In January, the Italian label returned to Paris Fashion Week after an eight-year hiatus. During the Golden Globes and the Oscars, the brand upped its profile with Angelina Jolie’s dresses by Atelier Versace.
And Versace isn’t stopping now. This year, Chief Executive Gian Giacomo Ferraris plans to open the first stores in Brazil and Korea, as well as expand in China, launch e-commerce and create spin-off lines. The brand also returned to Japan and increased production of shoes and small leather goods. We’d call that a success.
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Source: www.online.wsj.com
Photo Source: www.thefashion-court.com
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