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Versace hires Goldman Sachs to advise on more growth

Fashion house Versace investing in Brazil, South Korea, Turkey

04 April, 18:47
Versace hires Goldman Sachs to advise on more growth (ANSA) - Milan, April 4 - With strong revenues and continued expansion - despite the economic crisis shaking much of the globe - fashion house Versace isn't worried.

Instead, Versace's biggest concern these days is how to grow even more, says chief executive officer Gian Giacomo Ferraris.

For help, it has turned to financial advisers Goldman Sachs and Banca Imi, which are working with company management to figure out new growth strategies, the CEO told ANSA in an interview.

What is certain, he added, is that the family-owned company will not give up control of the Versace brand.

Last year, strong growth was recorded in the United States but Versace says it isn't giving up on its home market in Italy, with plans in the works for a new airport store in Venice.

Versace has also invested heavily in Brazil, Korea and Turkey.

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