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Versace Plots 88 New Stores

Coming off a strong quarter, the brand says it’s connecting with younger shoppers

Published

2 years ago

February 9, 2022

VMSD Staff

Versace Plots 88 New Stores — Credit: Evgenia Tsvirko, iStock

Credit: Evgenia Tsvirko, iStock

The parent company of Versace (Milan, Italy) said it’s aiming to increase the luxury fashion brand’s footprint from 212 stores to 300 by the end of its current fiscal year, Retail Dive reports.

Executives of Capri Holdings – which operates the Versace, Jimmy Choo and Michael Kors brands – disclosed the plan to analysts in discussing its fiscal third quarter earnings report. The fashion conglomerate reported a 29% increase in revenue for Versace and said the brand is connecting with younger shoppers at physical stores.

The article cites a research note from GlobalData Managing Director Neil Saunders:

“Much of Capri’s success came against a backdrop of robust consumer spending with shoppers eager to treat themselves to luxury clothing, accessories and footwear during the holiday period as they socialized more. Gift buying was also elevated with high-end apparel featuring on the gift lists of more consumers than in the prior year. All of Capri’s labels benefitted from this trend, but as has been the case for a long time, some benefitted more than others.”

Read more at Retail Dive.

VMSD Staff

Drawing on more than 125 years of history serving the retail design market, VMSD magazine provides retail professionals with the most up-to-date, innovative retail design ideas and industry news through its industry-leading magazine, website, social media channels and bulletins.

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