2010 Versace Hot Sale In China
Italy fashion brand Versace expects its sales volume to record high in 2010, thanks to its restructuring and sales in China.
In an interview with Reuters, CEO Gian Giacomo Ferraris said that due to the high efficiency of the logistics system and the correct positioning of the brand, he was confident of the company's ability to restore profitability in 2011.
He said: "we are optimistic about 2010. We have raised the annual revenue target from 270 million euros last year to 280 million euros. Now the company is gradually achieving this goal."
In 2002, Versace entered China. Now China has become the largest market for Versace, followed by Europe and the United States.
Gian Giacomo Ferraris believes that in 5 years, China's sales will rise from 25% to 35%.
The group plans to open new stores in Beijing and Shanghai early next year.
Gian Giacomo Ferraris said the Versace men's wear market is always good, and women's clothing is also growing.
In September, the first half sales of Versace will be announced. The company's revenue will rise by 9% to 130 million euros.
The wholesale market is expected to pick up in the three quarter and maintain a stable trend in the fourth quarter.
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