Versace Stays with Luxottica Despite Restructuring

"Italian top fashion house Versace is expecting higher revenues in 2012 after launching a collection for Swedish retailer Hennes & Mauritz this year and revamping its Versus second line, its head told Reuters," reports ShareNet. "As part of restructuring, Versace has cut minor licences to develop its own products. However, [Chief Executive Gian Giacomo] Ferraris said he will keep its contract with Luxottica , the world's biggest eyewear maker. 'I will not end it,' he said. 'We are putting everything into place to further increase revenues in 2012. We are well beyond our initial targets,' ...Ferraris said at a crammed Versace flagship store during Thursday's Vogue fashion night." Read more.