Good news for fashion-conscious tots – Versace are launching a childrenswear line, their first since a previous line called Versace Young closed in 2004. It's described as ‘a high-end, glamorous and colourful collection in line with the brand’s essence, with a touch of rock ’n’ roll,’ by chief executive officer, Gian Giacomo Ferraris so surely it won’t be long after spring 2012 that we'll see tiny Suri Cruise and mini Beckham parading the wares, right?
Unusually, Ferraris has outlined the business plan for the new label saying that in five years he expects the line to have 200 stockists and wholesale sales of 30 million euros [not far off £30m], ‘we are also finalizing our own store concept,’ he said, adding the collection will be available in Versace’s existing stores as well.
Whoot! It’s not just a happy day for the stylish under 12’s of the world – Versace have announced that their profits are up substantially, with sales growing 9.1% to over £250 million in 2010, which has helped them to overcome debt problems from earlier in the noughties and return the company to the black.