Versace makes money?
Well, we can finally get some sleep: Versace as posted a profit for the first time in years.
Once a fashion powerhouse in the 1980s and early 1990s, the label has been operating in the red for quite some time. Industry experts are crediting the turnaround to a number of factors, including the revitalization of the lower-priced Versus collection (thanks to Christopher Kane), the relaunch of Atelier Versace, the couture collection, and, of course, the H&M collaboration.
The label came to embody the “more is more” philosophy of the ’80s, turning Gianni into a multimillionaire and a celebrity in his own right. After his death, Donatella, a.k.a. “The Walking Slim Jim,” has carried on his legacy with varying success. In recent years she has pushed the menswear collections forward, embracing a skinny pseudo-rocker aesthetic, a la Frida Giannini at Gucci. Little by little, classic Versace prints are starting to work their way back into the collections, much to the delight of critics and editors.
Like Calvin Klein, this label confuses me. Who—in regards to menswear—is wearing it? I’m not criticizing the collections. In fact, I’m actually growing more and more fond of them. But who is buying it? Sure, you can purchase Versace suits and basic sportswear at some department stores and the small handful of freestanding boutiques in the States and Europe, but what about the runway collection? Is this just another case of brilliant, beautiful clothes being laboriously designed and created to sell sunglasses and bottles of fragrance?
Consider, won’t you, some stellar—and sometimes amusing—looks from the previous five seasons.