Skip to main content
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Versace Bets Future on New Signature Pattern to Revive Brand

Versace Spring/Summer 2021 campaign.
Kendall Jenner stars in Versace Spring/Summer 2021 campaign. (Courtesy)

Versace will debut a new pattern for clothes, handbags and other products next month that executives believe can singlehandedly rejuvenate the label as the luxury market looks to recover from a pandemic-fuelled decline.

Designer Donatella Versace has developed a “unique signature pattern” that will be unveiled at her upcoming fashion show in Milan, executives said Wednesday. When the as-yet unseen design arrives at retailers in the fall, the brand plans to pump money into a major marketing campaign around the style.

“I believe that’s going to change the trajectory of the company significantly over the next 24 months,” John Idol, chief executive officer of parent company Capri Holdings Ltd., said on a conference call with analysts after reporting third-quarter earnings.

Signature patterns can define high-end brands -- think Burberry’s tartan or Gucci’s red and green stripes -- and have a direct impact on sales. Versace has been trying to find a new hit design to follow the Barocco V, a logo that it has replicated across clothes, handbags, shoes, belts and jewellery.

ADVERTISEMENT

Idol said executives are building a “more stable base” for Versace that it didn’t have prior to its $2.1 billion acquisition of the Italian label in 2018, by selling more accessories and footwear to improve operating margins. The aesthetic will still be based on runway looks and Donatella Versace’s creative concepts, he said.

“As we build out a base for this company, which the company really over its history hasn’t had compared to our luxury peers, that will improve the profitability dramatically for Versace,” the CEO said. Versace’s revenue was flat last quarter, outperforming its sister brands Michael Kors and Jimmy Choo, which both posted large declines.

Shares of Capri jumped as much as 7.6% Wednesday in New York, the biggest intraday gain since Nov. 17.

By Kim Bhasin.

In This Article
Topics

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Luxury
Provide insight and analysis on fashion’s most powerful luxury brands.

Marine Serre: From Radical to Pragmatist

Serre, who grew sales by 20 percent in 2023, has been named Pitti Uomo’s next guest designer. She’s using the opportunity to show her men’s collection for the first time.


Who Gets to Buy a Birkin Bag?

Hermès’ elusive sales strategy is at the centre of a new legal challenge for the French luxury giant. BoF breaks down the practices under scrutiny and what the suit could mean for the fashion industry at large.


view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
BoF Professional - How to Turn Data Into Meaningful Customer Connections
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
BoF Professional - How to Turn Data Into Meaningful Customer Connections