Versace: $45 million loss

“It (Versace) projected a loss of $45 million in 2009 and no return to profitability before 2011.”

“…Versace is suffering from the sharp rejection of luxury goods by consumers around the globe.”

Restructuring Luxury at Versace, NYTimes

Questions to ponder:

1. Do you buy fashion because of the brand, or mainly because of the design?
2. If they were alternatives to those ready-to-wear look this season (aka: fakes and counterfeit), would you be open to consider it?
3. What justifications are there for you to buy brand names…belief that it is of the highest quality? Status? Etc?

xoxo Gloria