Versace Developing Recession Strategy
Monday, August 31st, 2009The Versace credo of glamour, celebrity, and over the top excess now seems wildly out of place during these tough economic times. The sales figures tell the same story. The luxury market is down, way down, as the rest of the world tries to recover from the mortgage crisis and loss of their retirement funds.
Versace is famous for bold designs and high profile celebrity campaigns as well as the opulence and excess. The luxury and lifestyle brand has a wide variety of unique collections ranging from ready to wear, couture, handbags, hotels, and accessories. One of the most successful subdivisions of the accessories line includes Versace eyeglasses and sunglasses. Now that the market has slowed down, more consumers are turning to these accessories as a way to instill the same luxury they are used to but without the hefty price tag.
Versace’s eye-catching accessories could be what ultimately saves the brand. Versace eyeglasses and sunglasses have the right mix of color, pattern, embellishment, and sophistication to lend the Versace spirit to any outfit you put together. For today’s budget aware consumer, these luxury accessories help to transform a simple wardrobe and update any outfit. Nowadays, the price is much more justifiable for a pair of Versace eyeglasses than a dress or suit. With this in mind, although the sales figures are clealy down, focusing more on accessories and scaling back the apparel pricing will keep Versace afloat for the duration of the economic downturn.

