Versace is shifting its attention to the growth of its US business, according to a report by WWD. The Milan-based luxury goods company will be directing sales, distribution, marketing and communication of its ready-to-wear and accessories from its headquarters on New York’s Fifth Avenue. Previously, the company managed most of its business from Milan.
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The company’s chief executive, Giancarlo Di Risio, has branded the US as a key market for growth. Di Risio, who joined the company in 2004, has made the strategic shift to boost the US business, which was said to have been underperforming in recent years. Furthermore, the US arm of the company is also taking over the sales and distribution of Versace Jeans Couture from its licensee, IT Holding unit Ittiere.