By  on June 19, 2017
The Versace franchised store in Tehran has struggled given political and economic uncertainty.

When Iranians reelected the reformist Hassan Rouhani as their president last month, it was a huge relief for Farshid Jamali, the businessman behind the Iranian outposts of Italian fashion brands Versace and Roberto Cavalli.

The uncertainty that overtook the initial euphoria of Iran’s nuclear deal with the West two years ago has hurt fashion’s ambitions in the Islamic Republic, which had been hailed by business as the biggest market to reemerge onto the world stage since the collapse of the Soviet Union.

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