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MILAN (Reuters) canada goose coats on sale Italian fashion house Versace, one of the last family owned luxury groups, may consider opening the company to outside investors uk canada goose to canada goose black friday sale help fund expansion in overseas markets such as Asia, its chief executive said.
Canada Goose sale Pedestrians walk past Canada Goose online the Versace store on Fifth Avenue in New York October 8, 2009. REUTERS/Lucas Jackson Canada Goose sale
Founded in 1978 by the late Gianni Versace, the group faces the same dilemma as peers such as Missoni, Roberto Cavalli and Giorgio Armani canada goose store keep the business in the family or give up some control in return canada goose factory sale for the investment needed to catch up with rivals Canada Goose sale which have already taken that Canada Goose Parka path.
Italy, whose economy relies heavily on family businesses, has failed buy canada goose jacket cheap to create conglomerates like France LVMH and PPR because of owners reluctance to cede control.
buy canada goose jacket cheap family is now aware that we need to seize the moment and fund our growth, Chief Executive Gian Giacomo Ferraris told Reuters in an interview on Thursday. buy canada goose jacket cheap
are asking ourselves how fast we could go if instead of a Mercedes we owned a Ferrari, Ferraris told Reuters.
Ferraris, a canada goose retail veteran uk canada goose outlet of Gucci and canada goose clearance Jil Sander, said the company has set no deadline for any deal and can meet its existing growth targets without outside help.
canada goose black friday sale A company spokesman said sale is an option not a necessity canada goose black friday sale
canada goose deals Versace, Canada Goose Jackets whose glittering gowns are worn by stars such as Lady Gaga and Madonna, raised the prospect of an imminent sale last May when it hired investment banks Goldman Sachs and Intesa Sanpaolo Banca Imi as advisers. canada goose deals
canada goose But concerns over control of the company, owned by chief designer Donatella Versace, her 26 year old daughter Allegra and Donatella brother Santo, have delayed progress, investment sources close to the matter said. canada goose
Canada Goose https://www.canadagooseoutletcoats.com Outlet Ferraris said a stock market listing, mirroring those of larger peers Prada and canada goose uk black friday Salvatore Ferragamo, could be a way to fund more aggressive store openings. Canada Goose Outlet
are aware that it could be a road but not immediately, said Ferraris, who joined Versace in 2009 to revive the then loss making company.
He hired new staff after cutting a quarter of its 1,300 strong global workforce, revamped loss making stores and expanded into fast growing Asia, which now makes up over 40 percent of revenues.
Versace has since returned to profit and on Thursday said it Canada Goose Outlet expected to hit its 2014 revenue target of 500 million euros canada goose uk outlet ($642 million) ahead of schedule.
canada goose coats Debt has fallen to 25 million euros, around a third of the level at the end of 2009, excluding investments in new stores. canada goose coats
Italian designer Donatella Versace (2nd L), former husband Paul Beck (R), son Daniel (L) and daughter Allegra pose for photographers as they arrive for the dinner after the ballet canadian goose jacket “Grazie Gianni con amore” (Thanks Gianni with love) on the tenth anniversary of the death of Italian stylist Gianni Versace, in Milan July 15, 2007. REUTERS/Alessandro Garofalo
Canada Goose Parka FAMILY STAKES At current valuations for luxury companies of canada goose coats around 15 times EBITDA, Versace may be worth more than 690 cheap Canada Goose million euros on canada goose uk shop the basis Canada Goose Online of its 2012 core canada goose clearance sale earnings. Canada Goose Parka
canadian goose jacket That valuation would rise to over 1 billion euros in 2014, making an investment a better cheap canada goose uk option for the company. canadian goose jacket
buy canada goose jacket The company on Thursday said earnings before interest, tax, amortization and depreciation rose 20 percent to 46 million euros last year. buy canada goose jacket
Versace has 93 stores worldwide, 66 of which are for its top Versace line, whose evening gowns are priced over Canada Goose Coats On Sale 6,000 euros.
Canada Goose Jackets Total sales rose 20 percent to 408.7 million euros last year, above the industry average. Canada Goose Jackets
canada goose clearance sale Sales from its own stores maintained that growth rate in the first three months of this year, helped by its focus on Asia and the United States. Sales in Europe rose 7 percent despite the canada goose jacket womens recessions in Italy and Spain. consultancy Bain. Analysts forecast the sector will grow at buy canada goose jacket between 7 and 9 percent per year from now on. canada goose clearance sale
Canada Goose online Ferraris said it was too early to speculate about the size of any eventual sale and declined to comment on what the family may want to do with their holdings. Canada Goose online
Allegra Versace, who inherited her uncle 50 percent stake when she was only 11 and joined the board in 2011, could be crucial to any deal. She is working as a stylist with no exclusive contract with Versace.
canada goose store Donatella owns 20 percent of the company and her brother 30 percent. canada goose store
The investment sources said the family may prefer to sell a minority stake on the stock market.
cheap Canada Goose One of the sources said Versace has a brand value similar to Valentino, which was bought by Qatari investors last July for a whopping 700 million euros, or 31.5 times 2011 EBITDA. cheap Canada Goose
canada goose clearance But that valuation now appears to be a one off, the sources said. Ferragamo and Prada were valued at 16 times and 12 times core earnings respectively when they joined the market in 2011 canada goose clearance.