Versace Will Open Accessories Flagship Store During Milan Fashion Week.

Versace will set up its flagship store in the Emanuele S arcade of Galleria Vittorio Emanuele II, a famous tourist shopping spot in Milan during its fashion week in Milan.

Gianni Versace SpA CEO Versace Gian Giacomo Ferraris said that the group had invested 2 million euros in the two tier new store with an area of 2754 square feet.

In order to get the lease of the store, Gianni Versace SpA Versace agreed to invest 50% of the 3 million euros needed to repair and maintain the Galleria Vittorio Emanuele II Emanuele S arcade. The remaining funds were shared by Prada SpA Prada and the publishing giant Feltrinelli.

According to market news, Gianni Versace SpA Versace paid an additional 15 million euros in entry fee.

Gianni Versace SpA Versace invested heavily in the Galleria Vittorio Emanuele II Emanuele S arcade. In addition to the World Expo held in Milan in May 2015, taking into account the February private Holdings Company giant Blackstone Group LP Blackstone invested 210 million euros in 20% shares, the group entered the second stage of global expansion, hoping to double the annual sales to 800 million euros before 2016, and listed in 3-5 years ago.

Gianni Versace SpA achieved total revenue of 479 million 200 thousand euros in 2013, an annual increase of 17%, of which 50% came from accessories sales, and Gian Giacomo Ferraris disclosed that this proportion was only 20% in 2009, so the importance of accessories category is increasing.

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Sales also showed strong growth.

Driven by strong sales in wholesale and retail channels as well as all major markets in the world, the group's net profit in fiscal 2013 achieved a significant increase of 27.6%, from 8 million 500 thousand euros in the previous year to 10 million 900 thousand euros.

According to the constant exchange rate, the profit before the depreciation and amortization of EBITDA is 71 million euros, up 60% from the same period last year.

Gian Giacomo Ferraris8 Group sales have double-digit growth in the year, and the growth rate is expected to reach double digits throughout the year.

The future group will mainly invest in the US, South America, South Korea and Japan.

In 2013, sales in the US and Asia increased by 32% and 19% respectively.