MILAN Nov 16, 2004/ FW/ --- It’s all about time for the House of Versace this week in Milan as the Italian fashion house announced that it has entered into a licensing partnership with Timex Group B.V. for its watch, jewelry and writing instruments business.

With the new arrangement, Versace S.A., a subsidiary of Gianni Versace S.p.A and the house’s current watch, jewelry and writing instrument licensee, will be sold to Timex and it will be renamed Vertime S.A.

The move is monumental for both companies, as Timex marks its first foray into luxury items while for Versace, it gives the company a chance to be in forefront of the very lucrative watch and jewelry markets.

“In Timex, we’ve found a partner that is uniquely qualified to realize and enhance the brand’s potential within timepieces and jewelry categories,” Gianni Versace S.p.A. CEO Giancarlo di Risio said in a statement.

The House of Versace is not wasting time when it comes to the accessories market. The deal with Timex comes in the heels of its Spring 2005 womenswear collection wherein totes, handbags and belts, together with watches were highlighted as part of the whole collection.

For Spring / Summer 2005, expect the Versace woman to be fully equipped with clutch bags, totes, luggage and gym bags as they travel around the world, work out or spend a night out in town.

Completing the signature “Versace sexy” womenswear bright yellow, red and pink, plus sorbet shades of coral, lavender and beige, these accessories will surely ring registers in 6 months time when they hit the stores.

Also, if you are like me who am missing Versace from the haute couture line up, don’t worry. Donatella made sure that those drop dead gorgeous gowns were shown during this collection.

So, don’t expect Beyoncé and JLo to change designers yet. Donatella made sure that she has something for her friends.

Versace

Versace

Versace

Versace