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Versace Says No To Major Discounts

Right now a wide variety of brands are cutting their prices by heretofore unseen levels. Luxury at a discount is everywhere. But don't look for a big Versace discount anytime soon. Versace CEO Giancarlo Di Risio, shown at right, recently told Italian daily Il Sole 24 Ore that Versace will not be playing the price slashing game. As he sees it, the Versace customer isn't concerned with getting a ridiculously good deal, they are more considered with living life as they always have. He believes that luxury houses that do deep discounts as devaluing the sector overall. In Di Risio's view, the sale buyer is a different customer than the usual client. A brand that keeps lowering prices may end up showing that core customer that the goods are worth less.
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