Gisele Bündchen for Versace Spring-Summer 2012
The flamboyant Italian label is poised to make a robust comeback this year, with the announcement of Hiroshi Saito as Chief Executive Officer of Versace Japan.
In 2009, Versace shut down its four Japan stores, citing a need for the brand to reinvent its image and restrategize its business operations. Now, it seems as if the famous Medusa logo will be making its presence felt in the trendy Asian fashion capital all over again.
Commenting on its re-entry into the market, Gian Giacomo Ferraris, Chief Executive Officer of Versace SpA, said: “I am very excited to announce that Mr. Saito, whom I worked with very well in the past, is joining our team. He is one of the best managers in the Japanese luxury business and he understands Italian fashion brands better than anyone else.”
“I am confident that, with the arrival of Mr. Saito, our re-entry into the Japanese market will proceed fast and in the correct way. At the Group level, we continue to work with focus and enthusiasm towards our goals which, for 2011, foresee a significant growth in retail and wholesale sales, as well as a return to profitability.”
Last fall, Versace collaborated on a hugely popular capsule collection with Swedish fast-fashion chain H&M. That success, and Versace’s bold, inventive spirit, should ease its foray back into the collective consciousness of Japan’s fashion crowd.