Versace Intends To Close 250 Retail Stores

Recently, the world Luxury goods Versace announced in a statement that the company plans to implement a restructuring plan aimed at ensuring the brand's solid development prospects, and Versace will close 250 stores worldwide.

The restructuring plan is based on Versace's bad business reality in 2009.

According to the 2009 annual performance report released by Versace, the company suffered a loss of 49 million euros in 2009. Among them, the special expenditure of 37 million euros is considered to be the main reason for its loss.

As a "remedial measure" for huge losses, Versace The launch of the restructuring spending plan seeks to reduce operating costs to cope with the decline in world fashion and luxury consumption.

Versace will close 250 stores around the world, accounting for 1/4 of its total retail outlets.

In response, Versace general manager GianGiacomo Ferraris expressed the hope that the plan would help improve Versace's financial position. It is expected that Versace will get rid of losses in 2011 and make profits.

It is understood that luxury under the global financial crisis. consumer demand The impact of a sharp drop in Versace sales has declined from 336 million 300 thousand euros in 2008 to 268 million euros in 2009.