Versace Introduces New Store Concept, Expands Retail Network
MILAN — Versace is on a roll.
The Milan-based luxury company is introducing a new store concept and expanding its retail network in addition to revamping its existing boutiques globally.
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The company plans to revisit all of its 212 boutiques around the world modeled after the new blueprint, which was introduced in September at Versace’s revamped Paris store and at the new Shanghai and Tokyo units. Next to get the treatment are the new Los Angeles and New York’s Madison Avenue boutiques later this year.
“The recent openings in key luxury cities — Shanghai, Paris, Tokyo, or soon Los Angeles and New York City — will strengthen the luxury positioning of the house, and I am excited to continue this strategy moving into 2023 and beyond,” said Emmanuel Gintzburger, who was appointed chief executive officer of Versace in March.
Conceived in marble and ceramic, with gold accents, the stores carry the entire Versace product line and are meant to reflect the brand’s signature codes and Italian heritage.
In Tokyo’s Ginza district, the Versace boutique covers 3,672 square feet over three floors, offering the brand’s men’s and women’s ready-to-wear and accessories as well as home goods — a growing category for the label. As reported, Versace Home was previously manufactured internally, but last year the company unveiled the first designs under a licensing agreement inked in 2020 with Luxury Living, part of Lifestyle Design Group.
The new space features Versace elements complemented by ceramic décor, fixtures finished in polished gold, and white marble counters.
A Medusa head decorates the ceiling alongside soft lighting in Versace’s Greca pattern that reflects against the marble flooring cut in the same signature motif.
Sections of the store feature panels of fluted wooden walls in light gray while others are in blue, Azul calcite marble with matching plush velvet seating. The location also features a VIP room on the third floor.
Marking this opening, the store will carry dedicated and exclusive products, such as the women’s Greca Goddess clutch, crossbody and card case styles in black and red colorways, and the men’s limited-edition tote bag crafted in alligator leather with smooth leather finishes.
In Paris, Versace has reopened its Avenue Montaigne flagship, which spans 8,478 square feet. It features marble, ceramic, wood and golden metal as main elements. Fixtures throughout the two-floor boutique are finished with polished gold metal and white ceramic. Walls are decorated by fluted wood panels. Blue calcite marble fixtures and velvet seating stand in areas embellished by a blue carpet.
Brand signatures like the Barocco print and Greca motifs are present across floors, walls or ceiling.
Signaling the ongoing importance of the Chinese market, Versace has opened two new boutiques in Shanghai’s luxury shopping district. The units are located in the IFC Mall and Shanghai CITIC. Here, too, marble, ceramic, wood and golden metal are key materials as the fluted wood panels on the walls. Each space will offer a full selection of Versace women’s and men’s rtw, bags and shoes.
Versace’s owner Capri Holdings Ltd., through its chairman and CEO John Idol, has been touting the further growth potential of the fashion brand as it raises its luxury positioning.
Gintzburger, who left Alexander McQueen for Versace, is tasked with spearheading the brand’s expansion.
During his tenure at McQueen, Gintzburger oversaw an aggressive retail expansion plan, with an ambitious strategy for the network and this appears to be part of Capri’s vision for Versace going forward.
Gintzburger succeeds Jonathan Akeroyd, the new CEO of Burberry, and is the second McQueen veteran to become CEO of Versace.
In March, Idol said Gintzburger “has a proven track record of building global fashion luxury houses.” Idol continued, “We believe that Emmanuel’s vision for Versace will help us achieve our ambitions for the future. Versace already has strong momentum and Emmanuel’s leadership will help us further accelerate our plans and strengthen our strategic initiatives.”
Donatella Versace, the brand’s chief creative officer, has also touted Gintzburger’s background in luxury.
As reported, revenues for the first quarter ended July 2 at Versace grew 14.6 percent to $275 million, up from $240 million a year ago.
For the full year, Capri, which also owns Michael Kors and Jimmy Choo, expects Versace revenues to amount to $1.17 billion.
