Thu 29 March 2012
IN THE MONEY: Announced this week in a turn around story, Versace has returned to profitability in 2011. Attributing the growth to a strong performance in the U.S. plus improved strength in developing regions like Brazil and Asia, the Italian icon has posted a profit of 8.5 million Euros for 2011- a far cry from the 21.7 million Euro loss in 2010.
Forecasting further double digit growth in 2012, the outlook is optimistic. The widely anticipated comeback is no industry secret- Perhaps the collaboration with H&M is paying off? The menswear collection shown for AW12 was certainly on shaky ground!
Want more Versace? Try VERSACE AW12