Versace Plans To Close 250 Stores: Not Affecting The Chinese Market
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The days of the luxury goods are getting harder and harder when the ZARA and other flat fashion clothes are in the world market.
Following the announcement of the closure of some Japanese franchised stores at the end of last year, Italy luxury brand Versace announced plans to close 250 stores, accounting for 1/4 of the total retail sales.
Recently,
Versace
The 2009 annual performance report was released, and the company reported a loss of 49 million euros in 2009.
Versace announced in a statement that it planned to close 250 stores.
"Although the luxury market in Europe and America is shrinking rapidly, the emerging market represented by China still has unlimited potential."
The industry believes that Versace's contraction plan will not affect the Chinese market for the time being.
The Peninsula Beijing Hotel Versace
Exclusive shop
The shopkeeper told the Beijing Morning Post reporter that as of now, no notification has been received from the China store.
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