Monday, 3 July 2017

Versace reports 3,7% increase in revenues FY 2016

Versace archives the 2016 fiscal year with revenues up + 3.7% but with consolidated loss of 7.4 million, compared to the 15.3 million in 2015.

With a turnover of 668.7 million euros, the margins of the fashion house have halved, with ebitda dropping by 45.5%, affecting revenues by 6.6%, compared with 12, 5% of 2015.

The fashion house, controlled by the Versace family (80%) and 20% by the Blackstone fund, increased operating costs by up to 60.7 million, due to investments aimed at developing the retail, which last year saw the opening of 29 stores and five outlets.  The retail development plan continued in 2017, with the launch of four new outlets in the first quarter of the year.

Also during 2016, the company focused on the development of the label Versus and on the implementation of the online. In the 12 months just closed, the Versace saw retail sales up 4.3% (at 418.1 million) and wholesale traded at a shaky pace (+ 1.7%) to 199.1 million, with ready to wear in the foreground, both wholesale (126.6 million) and retail (221.7 million)

As far as geographic areas are concerned, Asia performed at a faster pace, with an increase of 8.8%, followed by North America to + 2.5%. The Emea fell by -1.1%.


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