By  on March 14, 2008

MILAN — Versace plans to invest about 45 million euros, or almost $70 million, to open 11 stores this year, mainly in Asia, further tapping a market it hopes will replace the U.S. as its second largest in terms of sales after Europe.

In an interview at the Italian fashion group's atelier on Via Jesu on Thursday, Versace chief executive Giancarlo Di Risio said the decision to add almost two square miles of retail space was based on the premise that the wider the net in the right waters, the wider the return.

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