As "24-hour Sun" reported, VERSACI Group will invest 10 million euros in China to set up nine new stores which are expected to open in 2007. The Group Executive Director, Mr. Giancarlo Di Risio and designer Donatella Versace are promoting their brand in Beijing, after that they will go to Shanghai and Hong Kong.
Di Risio took over the management from August 2004 on. Within two years, the company's turnover increased to 148 million euros, the former 120 million euros of debt was basically removed, and cash flow increased from two million euros to 16 million euros. Di Risio noted: "As we enter China, Donatella and I make an agreement on the strategic direction, that is, we readjust brand orientation. 'VERSACI' brand is not just a simple fashion brand, it is a luxury brand. Because fashion is on great haste all the time, but there will always be a luxury. I do not agree that China is a type B market to increase sale, and I believe the 'VERSACI' with a long history is what the Chinese consumers want to find.
Designer Donatella was the first time in China, she said at a news conference with a bit shy: "I am a woman with delicate figure, so when I design creations, I always think about women with the similar figures. Since most of Chinese women s statures are not much different with me, perhaps it is one of the reasons we can achieve tremendous success here."
