Fendi brings the spring-summer 2020 collection to the Indro Montanelli Public Gardens in Milan. A parade with the colors of the earth on the masculine sides and raffia XXL bags. Safari prints and patterns on trousers and long shirts such as kaftans

After the sale to Michael Kors Holdings, Donatella Versace explains the reasons for the agreement with a foreign player.

“In the last year, Versace has been approached by many people, French, Americans … but no Italian,” he told the Corriere della Sera. It is not us who have refused to participate in an Italian group “.

Commenting on the fact that the Versace family, a follow-up to the transaction, received 150 million euros in shares of the new Capri Holdings (the safe that will guard Michael Kors, Versace and Jimmy Choo), Donatella Versace explained: «It was not necessary for us to remain shareholders . We have decided to do it to ensure that we believe in this project and with what enthusiasm we begin a new chapter in the maison ».

“With this operation we will hire more people and bring more work to Italy,” he added, dampening the controversy over the possible negative effects of the sale to a foreign company. Concept reiterated by John Idol, CEO of the American group, according to which it is made in Italy is the strength of Versace and it is not possible to think of the brand otherwise.

According to the new ownership, Gianni Versace can rise to 2 billion dollars from long-term turnover, from 785 million in 2017 and 775 million dollars for ongoing closure. In the forecasts of the Americans the Medusa group should reach 850 million dollars in 2019, to then rise to 1.2 billion in 2022.

The growth will be supported by new openings (between 200 and 300 stores in the long-term plan) and by a greater focus on bags and accessories, which goes from 35% to 60% of total turnover.

SOURCE