Donatella Versace, Chief Designer of the Versace line
Fashion house Versace has claimed that their core customers won't queue for bargains in the January sales and it seems he is not interested in those that do want to snap up cut price items.
CEO of the designer Giancarlo Di Risio told Italy's financial paper, Il Sole 24 Ore: "Our regular client was not queuing on January 3-4 in Milan or Rome but was on the slopes in St Moritz or on a boat in the Caribbean."
He added: "In Via Montenapoleone or in Via Condotti, you could already buy goods at half price in mid-November. This ... policy is ruining a market, which given that it is at the high end, should be more protected ... For me fans of sales are different to regular buyers."
"If I lower the price of an evening gown from 7,000 euros to 5,000 euros, or that of a couture collection bag from 2,300 euros to 1,700 euros, it doesn't change much. But for those who lower the price of a bag by the same percentage and sell it in a shop for 500 euros, then the music changes.
"But ... we want to offer a real luxury and not to open our doors to the consumption of young girls who can put the designer handbag of their dreams on their arm with less than 300 euros. We are not interested in that."
Versace, like other designers, is holding sales after the festive period and they seem to have got off to a good start. Cars have been queuing at motorway exits to one fashion outlet at the weekend.
"It was a very good start, we had an optimal response and not only at our flagship (Milan) store," said Alberto Baldan, director general at La Rinascente.