Versace breaks into home furnishings, young trendy gear

       Everest World, local importer and distributor of luxury apparel brand Versace, will launch two new product ranges - Versus and Versace Home - in Thailnad next year.
       The expansion of Versace's portfolio in the Kingdom is in line with the policy of Versace Italy, which recently appointed Gian Giacomo Ferraris as its new CEO, to manage Versace business around the world.
       Vorasom Pagtaranigon, brand manager of Everest World, said the new CEo was taking responsibility for significant changes at Versace, which was now striving to become a leading designer and producer of furniture and lifestyle products.
       The company wants to focus on creating clear product protfolios for the Versace brand, consisting of four major products. They are the Versace Collection, the brand for men's spparel and business uniforms; Versace Mainline, the brand for men's and women's casual, business and party apparel; Versua, a brand for young and trendy apparel; and Versace Home, a brand for home furnishing products and porcelains.
       Everest World is the exclusive importer and distributor of Versace's brands in Thailand.
       Vorasom said the Versace Collection and Versus would be launched locally at prices 15-25-per-cent cheaper than Versace Mainline products.
       "Next year, we'll redecorate our Versace flaship store in Siam Paragom and add the new Versace Home collections. We'll also open the first of our Versus 'shop in shop' outlets at Central Chidlom. Versus will be the first Versace brand with a retail outlet in a department store. We'll also open the Versace Collection at Central Chidlom next year," she said.
       Vorasom said her company planned to open flaship stores for both Versus and Versace Home products in the near future.
       "We [Everest World] will comply with the business strategies of Versace Italy, which are aimed at achieving a big return from the Versace brand all over the world. Market penetration from next year will be more perfect, with a supporting plan from Versace Italy," she said.
       The local launch of Versace's new brands will also extend the company's new-customer base.
       "Our 2010 business plan includes a marketing budget equal to 12 per cent of sales, to remind customers of the Versace brand through ad campaigns and continuous imports of new products," Vorasom said.
       She said Versace's performance in Thailand in the first four months of the year was unsatisfactory, because of political and global economic problems.
       Hoever, the company posted double-digit growth in the second four-month period and is expecting that growth to continue, with full-year sales reaching Bt80 million to Bt100 million.
       With good signs of economic recovery, the company has seen a greater number of shoppers buying Versace, both locals and tourists, Vosasom said.