VERSACE LAUNCHES V2, WOMEN’S DIFFUSION LINE
MILAN — Gianni Versace has high hopes for its latest women’s diffusion line. Called Versace Classic V2, it is a product of VeZe, the joint venture company of the designer firm and high-end men’s wear manufacturer Ermenegildo Zegna.
The line, which joins a men’s wear line of the same name, has been introduced for spring-summer 1997 retailing. According to Santo Versace, chairman of the designer company, the women’s line has already racked up orders of about $13 million (20 billion lire) at wholesale.
In 1997, Versace expects it to post sales of $29 million (44 billion lire), while the men’s and women’s together should generate sales of $330 million (500 billion lire) by the year 2000.
VeZe, in which the house of Versace has a majority stake, was founded in 1990 and since then has been manufacturing the Versace Classic V2 men’s wear.
Initially, the women’s line will be retailed in 300 sales points worldwide, and that will be bumped up to 1,000 by early 1998. The plan is to develop strong export business to Japan and the U.S. The firm expects to distribute V2 women’s wear to stores that already sell the men’s line.
Gianni Versace is in charge of the creative aspect of the collection, while Zegna will contribute input in distribution and marketing.
“We have created a special and separate [sales] network to distribute this collection,” said Santo Versace.
The women’s collection, which will include tailored looks, knitwear and accessories, is seen as more classically basic than Versace’s other diffusion collections, Versus and Istante, which are trend-oriented.
It will be produced by specialized manufacturers that already work for Versace.
“The Versace Classic V2 women’s line is a mix of creativity and market needs. Diffusion lines are dictated by the market and should be easy-to-sell products,” said Versace.
Prices will be marked 50 percent below the Gianni Versace Couture rtw line with a suit wholesaling for $330 (500,000 lire).