The Italian house becomes one of the last brands to increase its prices. After Prada, Chanel or Rolex, Versace also takes the step.
Because of (or thanks to) the covid, the prices of many luxury brands have increased significantly.
Louis Vuitton, Cartier or Bottega Veneta are increasing their costs on certain items. These are mostly “must have” items, such as handbags or shoes.
An added value that pushes other companies to do the same. Versace is one of them.
At a retail conference, John Idol, president and CEO of Capri Holdings, which owns Versace, said, “We recently made the decision to take Versace to a higher level than it is today. We know that many of our competitors are priced significantly higher than we are.”
Featured photo : © Versace