The third Palazzo Versace will be built in Macau, China.In February 2014, Gianni Versace S.r.l announced its agreement with Blackstone to participate in the next phase of the Companys development. Its products cover clothes, fragrances . Marketers who understand their customers demographics can offer more personalized, relevant content because they know their customers interests and can anticipate their future needs. Zara 7. Below are the top 11 competitors of Versace: Hence this concludes the Versace SWOT analysis. 50% of employees at Versace are White. It helps clarify your vision, have more direction with future advertising plans, and optimize your resources, time, and budget. 30% are 35-44. Call or Email Us. Hi, I am an MBA and the CEO of Marketing91. Boomers (1943 - 1964) Dine out weekly. It became famous when in 1926 it came up with the first waterproof watch. The most important luxury brands in the fashion industry participate in Milan Fashion Week. The definition of demographics is statistical data relating to the population and particular groups within it. 1. They describe who these individuals are, how they live, what they do, how far they have studied, how much they earn, and the kind of lifestyle they have. The interior of the car was the work of Versace. Get a complete picture of your customers across channels. If you are an admin, please authenticate by logging in again. Continue reading more about the brand/company. To unpack that demographic segmentation definition, you first have to know what demographics are. This is to stay close to its target audience. Donatella Versace has been Artistic Director of Versace since 1997 and has steered the brand into the 21st century. However, even though the Versace brand has had active participation in this majestic event, during 2021 it did not participate in person. Versace's primary competitors include Brioni, Corneliani, Valentino and 7 more. SWOT Analysis is a proven management framework which enables a brand like Versace to benchmark its business & performance as compared to the competitors. Available: https://www.statista.com/statistics/1013152/number-of-stores-of-versace-worldwide-by-region/, Number of retail stores of Versace worldwide as of 2022, by region, Revenue of the apparel market in France 2012-2025, by segment, Revenue of the women's apparel market in France 2012-2025, by segment, Revenue of the men's apparel market in France 2012-2025, by segment, Revenue of the children's apparel market in France 2012-2025, by segment, Revenue of the women's clothing accessories market in France 2012-2025, by segment, Revenue of the men's clothing accessories market in France 2012-2025, by segment, Industry revenue of wholesale of clothing and footwear in France 2012-2025, Industry revenue of retail sale of clothing in specialised stores in France 2012-2025, Consumer Price Index (CPI) of clothes in France 2020-2023, Consumer Price Index (CPI) of apparel and footwear in France 2020-2023, Consumer Price Index (CPI) of shoes and shoe repair shops in France 2020-2023, Consumer Price Index (CPI) of clothing items in France 2018-2022, Consumer Price Index (CPI) of clothing accessories in France 2020-2023, Annual Consumer Price Index for women's sportswear in France 2010-2021, Annual Consumer Price Index for men's sportswear in France 2010-2021, Annual Consumer Price Index for children's sportswear in France 2015-2021, Turnover of the most valuable clothing retail brands in France 2019, Leading 'men' brands among men in FR 2021, by number of users, Leading 'Underwear For Men' brands among men in FR 2021, by number of users, Leading 'Brand Of Clothes' brands among women in FR 2021, by number of users, Ranking of the most popular entry-level fashion brands among young French people 2019, Women's trousers usage in France 2021, by amount spent per item, Women's swimwear usage in France 2020, by expenditure, Bras usage in France 2014-2020, by expenditure, Bodies, camisoles and girdles usage in France 2014-2019, by expenditure, Women night and indoor clothes usage in France 2014-2021, by expenses, Annual spending dedicated to fashion by young French people 2019, by gender, Average monthly budget of French people for clothing before COVID-19 2020, by age, Textile and clothing consumption in France 2011-2019, Men underwear usage in France 2014-2021, by number of items purchased, Women's night and indoor clothes usage in France 2014-2021, Bodies, camisoles and girdles usage in France 2014-2020, by number of purchased items, Bras usage in France 2014-2020, by number of purchased items, Knickers usage in France 2014-2020, by number of purchased items, Frequency of purchasing from ethical clothing brands in France 2019, Number of stores of Capri Holdings from 2012-2022, Number of Versace stores worldwide as of 2022, by store type, Global net sales of Versace from 2019 to 2022, Global revenue of Versace in 2022, by region, Number of Jimmy Choo retail stores worldwide as of 2022, by region, Geox: worldwide number of single-brand DOS from 2014-2021, Number of Jimmy Choo stores worldwide as of 2022, by store type, Salvatore Ferragamo: number of TPOS worldwide 2012-2020, Salvatore Ferragamo: number of DOS stores worldwide 2012-2021, DSW's number of stores worldwide from 2014 to 2021, Number of stores of Steve Madden global 2014-2021, PVH's Tommy Hilfiger brand's number of stores worldwide in 2018, by region, Global number of J. Enjoy express delivery & free returns. Comment * document.getElementById("comment").setAttribute( "id", "aa20420fe0451ef6f57343150f3bca0c" );document.getElementById("i2e65971ac").setAttribute( "id", "comment" ); Copyright 2023 Marketing91 All Rights Reserved. Our group of experts focuses on helping businesses and brands succeed in one of the most competitive sectors in the market, the digital world. [60][61][62] The Palazzo Versace hotels are the world's first fashion-branded hotels. They have about 500 employees containing an expert team of designers and stylists, 7. Your email address will not be published. The perceptual map . In 2008, Versace teamed up with AgustaWestland to create the AgustaWestland AW109 Grand Versace VIP luxury helicopter. In this tier, only affordable brands compete, together with private labels and unbranded products. Versace is one of the leading brands in the lifestyle and retail sector. As Versace is a brand especially for celebrities it has been in limelight both directly and indirectly via these famous personalities. Its kitty includes-, Home Collection includes products for living and dining area and bath and bed items like. Foot traffic is a key factor of any successful retail store. Important customer demographics include: Age. Luxury brands have recognized that as time goes by, consumers are more interested in knowing their history. Tick the box to consent to the processing of your data in order to receive offers based on your preferences. A few days later the other logo vanished. All its customers are ready to pay the prices set up by the brand and hence the company has been able to hold its reputation in the consumer market with success. The collection Young versace and Versus introduced by Donatella Versace in 1993 enjoyed a widespread international coverage for its Black Versace dress of Elizabeth Hurley. Mass. [7][16][17], Versace has designed for various music artists, including stage and album cover costumes for Elton John in 1992 and outfits for Michael Jackson. Hi, I am an MBA and the CEO of Marketing91. Spring 2015 Ready-to-Wear Versus Versace BRAND HISTORY Price Points The clothes range from 300 euros for a simple T-shirt to 14,000 euros for a skirt or a coat. Capri Holdings Limited. [Online]. "Number of retail stores of Versace worldwide as of 2022, by region." Marketing Strategy of Versace analyses the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). Besides, to maintain the brands heritage on Instagram, fascinating images from the 90s have been recovered. )", "The Swap: Donatella Versace and Kim Jones | Online Store US", "Fabulous Friends The Swap presented Kim Jones's vision for Versace and Donatella Versace's interpretation of Fendi. Dive Brief: Nearly two-thirds (63%) of surveyed global consumers prefer to purchase products and services from companies that stand for a purpose that reflects their own values and beliefs, and will avoid companies that don't, according to new Accenture research shared with Marketing Dive. You are almost there! [55][56] The hotel was sold to a Chinese consortium in December 2012. - Versace's target market is Carpe Diems. It is a private company of Italian origins. The threats for any business can be factors which can negatively impact its business. The brand was found in year 1978 by fashion designer Gianni Versace. Louis Vuitton. Versace designs customized products for famous celebrities ranging from Prince of Wales to Hollywood celebrities like Jennifer Lopez. Use Tab to enter the drop-down content. Contact us now through our social media or website! Demographics By Department Versace is a female-dominated company. By the year 2016, Versace operated via an estimated one thousand and five hundred boutiques in the world market. Versace offers products with a perfect blend of glamour, style and high end couture, Urban people with extremely high taste and an appeal for the most innovative and luxury products, Versace is a brand having a luxury feel along with chic and sophisticated design along with modern aesthetics. The 99 cent store gives better service and merchandise than Versace. The brand started by launching clothing for both men and women, but now it has moved to jewelry, accessories and home furnishings. Only 1% of Versace employees earn a salary of >$200k a year. 30% choose restaurants with a mix of both familiar and innovative food options -. To learn more about Alexa features, skills, and products, click HERE. Following are the opportunities in Versace SWOT Analysis: 1. Prefer ordering delivery directly from restaurants. Gianni Versace S.r.l. Blackstone owns 20 percent of the company; while the Versace family remains at its heart, with Ms. Allegra Versace Beck, Ms. Donatella Versace and Mr. Santo Versace all playing important roles in the company. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. Today, Versace represents its heritage through its strong and fearless designs, while addressing a new global audience which continues to strengthen Versace's position in contemporary culture. Demographics are statistical characteristics of a group of people. Target markets represent customer groups. Please create an employee account to be able to mark statistics as favorites. Demographic segmentation is the process of dividing your customer or subscriber base into different groups based on shared common traits. Scammers! Louis Vuitton 8. 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