VERSACE NET RISES 13.8% IN ’96
MILAN — The Gianni Versace group reported Thursday that estimated 1996 yearend pretax profits rose 13.8 percent to $105 million (175 billion lire) from 153.8 billion lire in 1995 on consolidated revenues of $505 million (845 billion lire), up 23.5 percent from 684 billion lire in 1995.
Versace said 80 percent of turnover came from exports last year. The company estimated wholesale volume at about $1 billion (1.7 trillion lire). Of the total business, some 56 percent is in apparel, 25 percent in accessories, 15 percent in fragrance and 4 percent in home products.
The Gianni Versace collection makes up 45 percent of overall volume, including fragrances and home products, the company said. Versace Jeans Couture represents 21 percent; the Versus division, 10 percent; Versace Classic V2, 13 percent; Istante, 6 percent; Versace Sport, 4 percent, and Young Versace, 1 percent.
Versace has 166 boutiques worldwide, Istante has 24, Versus has 55, Versace Jeans Couture has 40 and Versace Classic V2 has 16.