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