Less Bling and a lot more Ting! The revamp of Versace
30-05-2006
In 2003 Versace had a recorded £65m loss on £219m of sales and a debt of £82m compared to a turnover of £210m in 2005 without debt but a loss of £3.7m – credit to the gal this is a hell of an achievement in the current market place.
In addition to this Donatella herself has had many demons to fight including an expensive cocaine habit that resulted in mixing and blending cocaine with sedatives and then long stays of absence away from work whist she went AWOL.
There has also been a mass of infighting between the family following the directions of the will from the death of her brother Gianni. Donatella herself only owns 20% whilst her 20 year old daughter owns 50% and her brother Santo owns 30%.
This seasons range from Versace has been heralded a great success by the critics that once slaughtered the name of Donatella. “Elegant sexiness” has been the main stay of the comments with the clothes being aimed at the average customer not the super rich. Donatella concentrates on design and leaves the running of the company to Di Risio. Versace has now become a lifestyle brand that covers everything from chocolates to jets.
There have been a wide variety of brand extensions and fashion is now also seen in hotels, apartments, homeward and travel.
Donatella has grown up – she has come a long way from 1978 when she graced the catwalk, dying her locks for her trade mark platinum white, for her brother Gianni when he launched the Versace label. She’s off the habit and is focused on success.
