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December 16, 2005
Versace Narrows Losses
Accessory sales and a softer image have helped Versace narrow its losses in 2005, the Italian fashion house said this week.
Versace expects to post a loss of €15 million for the year, compared to €95 million last year.
The brand traditionally known for its brash image and bright colors has benefited from a softening of its look into sexy everyday wear and strong sales of accessories such as the Madonna handbag. The €1,000 bag, designed by the pop diva herself, has been a sellout hit.
Looking ahead, Versace said it expects to continue to lessen its losses thanks to new management and its fresh product mix.
Posted by Blacks on December 16, 2005 12:46 PM
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