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Versace extends Versace Jeans Couture license with IT Holding
20 Sep '05
3 min read
The Chairman and Chief Executive Officer of IT Holding, Mr. Tonino Perna stated that these new projects derive from having firmly shared with Versace the view on the development strategy to follow in order to internationally increase the awareness of the brand and its market share in the young lines sector.
Mr. Perna added that for IT Holding the agreement with Versace is coherent with the strategy to strengthen Ittierre's leadership in the young lines market segment and to consolidate the license portfolio through long-term contracts.
In commenting the agreement, Mr. Maurizio Negro , Chief Executive Officer of Ittierre S.p.A., stated that these new projects represent an exhilarating challenge. For Ittierre, the opportunity to approach the sportswear market, with such a creative and prestigious brand is a significant challenge, that they are however sure to tackle with success”.
The overall royalties due on the Versace Jeans Couture collections are in line with those due on the Versace Sport collections and have not been subject to significant variations with respect to the terms of the current license agreement.
Leading Italian company IT Holding S.p.A. is busy in the luxury goods sector, and controls a group of companies that design, produce and distribute high-quality products (ready-to-wear and accessories, eyewear and perfumes) under owned brands - Gianfranco Ferré, GF Ferré, Malo, Extè - as well as under license agreements - D&G, Versus, Versace Jeans Couture, Just Cavalli, C'N'C Costume National. A Group with the heart and the speed of a small company.
Mr. Perna added that for IT Holding the agreement with Versace is coherent with the strategy to strengthen Ittierre's leadership in the young lines market segment and to consolidate the license portfolio through long-term contracts.
In commenting the agreement, Mr. Maurizio Negro , Chief Executive Officer of Ittierre S.p.A., stated that these new projects represent an exhilarating challenge. For Ittierre, the opportunity to approach the sportswear market, with such a creative and prestigious brand is a significant challenge, that they are however sure to tackle with success”.
The overall royalties due on the Versace Jeans Couture collections are in line with those due on the Versace Sport collections and have not been subject to significant variations with respect to the terms of the current license agreement.
Leading Italian company IT Holding S.p.A. is busy in the luxury goods sector, and controls a group of companies that design, produce and distribute high-quality products (ready-to-wear and accessories, eyewear and perfumes) under owned brands - Gianfranco Ferré, GF Ferré, Malo, Extè - as well as under license agreements - D&G, Versus, Versace Jeans Couture, Just Cavalli, C'N'C Costume National. A Group with the heart and the speed of a small company.
IT Holding S.p.A
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