Versace Reports Sales of over 300 million euros for 2007

versace_logo_ciNEW YORK, Jan 13, 2008 / FW/ — Giancarlo Di Risio, CEO of Versace, has two things to smile about, a successful unveiling of the maison’s Fall 2008 menswear collection and a healthy sales growth, 288 million euros in 2006 to over 300 million euros in 2007.

Taking into consideration an overall decline of the luxury market, the growth in sales shows Versace’s strength in this category. Di Risio attributed this growth with the strong sales of the Fall/Winter collection that was sold out by mid-November. The demand was so great that Versace had to anticipate releasing pre-spring / summer 2008 items in the company-owned boutiques.

“We are extremely satisfied with the result, especially if one takes into account that we are carrying out a restructuring plan, and some of our strategic boutiques were closed for renovation during 2007,” Di Risio told reporters at the Versace Menswear Fall 2008 menswear catwalk show held yesterday in Milan.

According to Di Risio, for 2008, Versace plans to focus on the development of menswear, which today accounts for 35% of sales. The company wants to find the perfect balance between menswear and womenswear sales.

Other areas that Versace wants to focus on are in jewelry, with its first boutique dedicated to jewellery already scheduled to be opened in Rome. In terms of global presence, Versace also wants to increase its visibility in this burgeoning luxury market.

[MARGUERITE SEBASTIEN]

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