Friday, March 28, 2014

EDIT 1-Versace sees good start to 2014 after sales rise 17 pct as part of past year

MILAN, March 35 (Reuters) - Italian fashion house Versace

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said on Thursday it had went about 2014 on a strong footing thank you

to a double-digit rise in sales from the own shops in the first

part, following a 19 percent increase for the complete of 2013.

Total revenue around the luxury group, which may seek store

market listing in the future after the modern sale of a 20

percent position to U. S. private equity team Blackstone,

rose 17 percent recently to 479 million euros ($660 million).

Core earnings rose effectively 60 percent to 71 zillion euros

once adjusted for cash effects, it said in a agreement.

Family-controlled Versace is seeking to develop 210 million

euros it went on from Blackstone to open new sites and build on the

turnaround spearheaded courtesy of current CEO Gian Giacomo

Some sort of Italian fashion house, favoured by your and pop

stars including Gaga, finally returned to profit this summer

after struggling for years following the killing ? suicide ? assassination ? homicide ? slaying of founder

Versace said 2013 sales at shops it is able to directly rose by

nearly the last in the United States, adding to a strong

performance news, and by 18 percent in Parts of asia. Direct sales

accounted for nearly 56 pct of last year's total.

The girls, which already owns 137 directly-operated shops

around the world, plans to boost our to 200 within three years,

the actual move that would help it increase their margins.

Versace, which competes even though using likes of Kering's

Gucci, many other Italian designer Roberto Cavalli and therefore iconic

Milanese fashion brand Armani, said it had invested 24 zillion

euros last year to boost its store and e-commerce presence.

It coverages to double the contribution from the e-commerce

"The main engine within your company's growth continues to be the

Versace Prima Linea (high-end collection), just what accounts for 60

percent of standard sales, " the company said international locations statement.

Rival Gucci said a month ago its sales, which accounts for

over fifty percent of Kering's market value, fell zero. 2 percent in the

final part of 2013 due to overexpansion as part of China. For the

whole of 2013, Gucci's sale rose a minute 2 . 2 percent, a far cry

from your increase of 9 percent news and 18. 7 percen this summer.

(Reporting by Valentina Za and therefore Lisa Jucca; Editing by Steve

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