Italian designer Donatella Versace (C) acknowledges applause at the end of the Versace Spring/Summer 2010 women's collection during Milan Fashion Week in this September 25, 2009 file photo.
Models gather on stage at the end of the Versace Spring/Summer 2010 women's collection during Milan Fashion Week in this September 25, 2009 file photo. Italian fashion house Versace is cutting about a quarter of its global workforce and expects to post a loss this year as it takes a hit from slumping demand for luxury goods and designer items in the financial crisis. The celebrity-favourite fashion brand, whose gowns are worn by Hollywood actresses such as Angelina Jolie, is taking measures aimed at returning the group to profitability in 2011, it said in an emailed statement on October 28, 2009.
