10 December 2010

Versace announces a new opening in China: the third Jewellery boutique opens in Beijing

MILAN (December 10, 2010) – Today saw the opening in Beijing of the Versace Jewellery boutique, the third store – following those in Rome and Dubai – dedicated to the Versace Watch and Jewellery Collections. These are a collaborative venture between Versace and Vertime, the Swiss company that produces and distributes Versace watches globally. Vertime is a division of Timex Group, a leader in the field of watch making with over 150 years of experience.

The new boutique, occupying 80 square metres, is situated within the China Central Place, the capital city’s shopping mall dedicated to luxury goods. The interior conveys exclusivity through the choice of precious and opulent furnishings, all created specifically for the store in Beijing: from the furniture to the walls in white lacquer and black leather. Large light boxes placed in the window displays, and smaller versions within the boutique, maximise the visual impact of the promotional imagery in store. A system of display niches within the walls highlights the collections on show to full advantage.

This new Versace Jewellery boutique, representing the latest stage of our expansion in China, underlines the importance of this market for the Versace brand.

Versace CEO, Gian Giacomo Ferraris says, “The opening of Versace Jewellery in Beijing fits in with our strategic development plans for China, a key market where the company has achieved constant and impressive growth. By the end of 2010 there will be a total of 67 Versace boutiques within the Greater China region, either under our direct management or that of our business partners. We anticipate that we will close the year positively there. The numbers are very encouraging and the most significant fact is that Versace has returned to performing well in its core business of clothing and accessories.”

Vertime CEO, Paolo Marai says, “The opening in Beijing signifies another important marker in our strategy for the expansion of single brand jewellery outlets for Versace. 2011 will also be an important year with more new jewellery boutiques opening across the world so that we can offer even more of our increasingly demanding customers a complete range of luxury products from the Versace brand. In this context, I would like to thank Mr Richard Liu, the exclusive Versace watch distributor in China and our key partner in the realisation of this project, which we view with enormous pride.”