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Versace, known for its glittering evening gowns and medusa logo,
has been going from strength to strength since flirting with
bankruptcy in 2004 and could be headed for a stock market
listing when market conditions improve.
"I expect growth this year to be slightly below that of 2015,"
Versace Chief Executive Gian Giacomo Ferraris told Reuters in an
interview on the fringes of the Conde Nast luxury conference.
"It will be a tough year."
Versace, still family-controlled with Donatella at the creative
helm, saw revenue rise 8.6 percent in 2015 at constant exchange
rates in the year to Dec. 31 to 645 million euros ($729
million).
Its cautious outlook comes after several luxury groups including
LVMH <LVMH.PA>, Richemont <CFR.VX> and Burberry <BRBY.L> posted
weak first-quarter sales, hit by lower tourist spending and
depressed demand in key cities such as Hong Kong.
Ferraris said business in Europe was growing mainly thanks to
local consumers as there had been a drop in buyers from regions
such as Russia and the Middle East.
The chief executive credited with turning the company around and
steering a course through family feuds, said next year was the
earliest Versace could float as it had not started choosing
advisers and not decided on where the shares would be listed.
Rival Italian luxury brand Valentino has also said it was
planning to float in 2017.
U.S. private equity firm Blackstone <BX.N> bought a 20-percent
stake in Versace in 2014.
Ferraris said Versace was actively investing in social media and
e-commerce, both in-house and with multibrand online retailers
such as Yoox Net-a-porter.
He said he was in Seoul to develop the brand's business in
Korea, the world's biggest duty-free market and No.8 luxury
goods market. On Thursday, he was on his way to Japan, where he
also saw solid growth prospects.
"I am quite optimistic about our growth in Asia," he said.
(Reporting by Astrid Wendlandt; Editing by Elaine Hardcastle)
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