Versace brought us some tantalising news to day – by confirming that they will be launching a lower priced range in order to bolster funds. CEO Gian Giacomo Ferraris’s plan is to launch a lower-priced line for autumn called Versace Collection, which is 30 to 40 percent cheaper than the main line.
They already have Versace, (ready to wear) Atelier Versace (couture) and diffusion lines, Versace Sport, Versace Jeans couture and Versus (designed by Grazia fave, Christopher Kane).
Due to financial hiccups during the period of global recession, restructuring plans have been announced today . . . the company is to lose around 350 staff world wide and closing one accessories factory – although most of the staff will be able to carry on working from the brand’s ready-to-wear factory.
Other plans at everyone’s favourite luxury fashion house - famed for its fabulous partywear and bling trademarks (hello safety pins!) - seem more cheery. They have other assets – like Australian hotel Versace Palazzo and the venture into the world of elite mobile phones which we reported on the other week.
The company is said to be focusing on accessories even more heavily (Oh NO! more lush bags and sunglasses! What ever will we do?)
But best of all! Cheeky T-shirt entrepreneur Chris Sauve has come up with this GENIUS ‘Save Donatella’ t shirt. We’re sure Versace can weather the global financial crisis (one look at their pre-Fall collection was enough to tell us there is nothing amiss in the design department) and now we can all show our support the best way we know how: emblazoned over our chests!