Versace Group reports positive 2012 and pursues expansion worldwide

Versace Group (Gianni Versace SpA) reports full year 2012 revenue growth of 20 percent to 408.7 million euros (compared to 2011) with sales at directly operated stores surging 39 percent. The company confirms it might reach its 500 million euro turnover target a year earlier than estimated.

In 2012, the U.S. was Versace’s fastest-growing market in 2012 as sales increased 46 percent. Revenue climbed 38 percent in Asia and 7 percent in Europe as the company opened more boutiques. Wholesale sales increased by 5 percent to 149.4 million euros, while revenue from royalties stagnated at 34.9 million euros.

Versace will open between seven to 10 stores in Greater China this year as well as outlets in Brazil, the U.S., Turkey and South Korea, Ferraris said. In Europe, where retail sales rose by a “close to double-digit” percentage in the first quarter, the company will open stores including in Rome and Paris and possibly one or two in Germany.

After adding online operations in Europe and the U.S. last year, Versace plans to extend e-commerce to Scandinavia, Australia and possibly China this year.

Versace Home Collection store, Beirut, Lebanon (opened 2013)