Versace'S Sales In China Are Gratifying

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Xiaobian of the network to introduce Versace sales in China to achieve two digit growth.

Recently, Italy luxury brand Versace revealed that the brand's net profit increased by nearly 1/3 in 2013.

Gian Giacomo Ferraris, chief executive, revealed that although China's market slowed down due to economic slowdown and anti-corruption, Versace's sales in China still maintained two digit growth.

He also pointed out that the growth of China's business today mainly comes from existing stores and network channels. Brands are no longer as sharp as they used to be to increase the number of stores. Although they can no longer return to the "38%" high growth rate of the past, the present growth pattern is more profitable.

The recent performance and data released by several luxury groups and market research institutions show that the luxury market is in a predicament.

Britain's Boboli Burberry and Mabel Mulberry both announced a profit early this month.

The world's largest luxury group LVMH grew by only 4% in the first 9 months of the year. The leather Department of Louis Vuitton LV and Fendi Fendi continued to be weak and organic growth was only 3%.

Both Prada and last month's latest performance reports sent negative signals to Prada.

In this regard, Gian Giacomo Ferraris said that China's anti-corruption action has indeed affected the production and operation of watches, jewelry and spirits of luxury goods enterprises, and Versace not only sells.

It is also a fashionable lifestyle, so the impact is not too great.

Versace's net profit in the 2013 fiscal year achieved a significant increase of 27.6%, from 8 million 500 thousand euros in fiscal year 2012 to 10 million 900 thousand euros.

According to the constant exchange rate, the profit before the depreciation and amortization of EBITDA was 71 million euros, up 60% from the same period last year.

As of December 31, 2013, year-on-year sales rose 17% to 479 million 200 thousand euros a year.

And Asia increased by 32% and 19% respectively, the main line Versace Versace contributed 60% of sales.

Gian Giacomo Ferraris said that the brand will achieve annual sales target of 800 million euros by 2016, and plans to go public in 3~5.