It has only been a month since Versace announced it was to be sold to Michael Kors’ parent company Capri Holdings for a reported sum of 2.12 billion dollars.
As an early indicator of change, and perhaps cost-saving measures under its new structuring, Versace is to integrate its Versus line into Versace Jeans.
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Versace Chief Executive Jonathan Akeroyd said “During the last few months we have studied how to simplify our business model with a view to focusing on the portfolio of our brands, continuing to ensure innovation and relevance in everything we do. We decided to integrate our two contemporary collections into one, merging Versus and Versace Jeans. This operation will allow us to further develop Versace Jeans’ proposals and, at the same time, not to lose the DNA and the codes that have made this iconic Versus “.
The collection was notably absent from the catwalk and fashion week after it decamped to London to show its autumn winter 2018 collection.
The Versace Jeans label is currently under license to Swinger International, also the licensing partner to brands including Genny and Cavalli Class.
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The unexpected move by Versace is indicative of the transformations and shakeups happening in luxury brand’s diffusion ranges.
Earlier this week Blufin announced the launch of the new Be Blumarine label that will replace Blugirl; Missoni recently reported Margherita Missoni as the new creative director of its M Missoni diffusion line; Marc Jacobs famously shuttered his Marc by Marc Jacobs stores, integrating the label under a single brand umbrella.
Donatella Versace will reportedly continue to lead the creative vision for the Versace brand.
At the time of the acquisition it was reported she would become a shareholder of Capri Holdings, along with her brother and daughter.
(Source: Fashion United)