ITALY: Versace plans Chinese expansion
Designer fashion house Versace will focus on expanding in China next year, AFP reported, citing group CEO Giancarlo Di Risio.
Di Risio told journalists the company plans to spend EUR10m (US$12.5m) on the Chinese market, making up about 40% of its total investment.
Versace so far has stores in Beijing, Shanghai and Hong Kong and will open nine next year in China, Hong Kong and Macua, Di Risio said, saying the firm was "encouraged by the achievement" of current stores.
Creative director Donatella Versace said she was confident Versace's "more contemporary, modern" trend would attract the Chinese, reported AFP.
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A stock market flotation could value Italian fashion house Versace at up to EUR900m (US$1.2bn), an industry expert told just-style on Wednesday (4 April)....
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