Versace Expects Slower Sales Growth In 2016

Italy luxury brand Versace CEO recently said it expects 2016 to be a tough year for the brand. Due to slower sales growth, major European cities such as London, Paris and Brussels have been hit by security problems and unstable demand.

Versace is famous for its gorgeous evening dress and medusa logo. Since its bankruptcy in 2004, its brand has been growing and may be listed on the stock market when market conditions improve.

"I expect that this year's economic growth will be slightly lower than 2015, which will be a tough year for the brand," said Versace CEO Gian Giacomo Ferraris, who interviewed Reuters at the Nash luxury conference in Kangtai.

E is still the head of Versace. By constant exchange rate, as of December 31st, the brand's 2015 earnings rose by 8.6% to 645 million euros (about 7.29 billion US dollars), and 2016 growth is expected to be lower than this figure.

From luxury group like LVMH,

And the weak sales in the first quarter of Burberry2016 showed that the retail sales prospect was not optimistic, and was affected by the low consumption of tourism in major cities such as Hongkong.

The US private equity firms Blackstone bought Versace20% shares in 2014.

Ferraris also said he developed brand business in Seoul, South Korea as the world's largest duty-free market and eighth luxury goods market.

Last Thursday, he also saw the growth prospects of surveillance in Japan.

I am very optimistic about the development of brand in Asia.

Ferraris says Europe.

This is mainly due to local buyers from Russia and the Middle East.

Versace actively invests in social media and e-commerce, including internal and online collaboration with multiple brands, such as Yoox Net-a-Porter.