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History Of Versace

1500 Words6 Pages

VERSACE

History
Versace is an Italian fashion house founded by Gianni Versace in 1978. The boutique opened in the same year and it was an instant success. After the death of Gianni Versace in 1997, his sister, Donatella Versace took over as the creative director of the brand. Since then she has introduced young Versace line, opened the Palazzo Versace in Australia and Dubai, which is a five star hotel, and Versace Home along side with their clothing and perfume line. Today, Versace is one of the leading fashion brands in the world.

Brand Identity
The prominent logo of Versace features the face of Medusa, who is a Greek Goddess. Medusa was one of the three Gorgons in classical Greek mythology, and the only one who was mortal. Medusa was …show more content…

It offers different types of productus and serivces to diverse customers. It has a range of products under the main Versace brand. This attracts all kinds of customers as some people would not be able to afford their clothes but will be able to afford their perfume. Even if it’s the smallest of things it makes people feel happy that they own something from a high value brand such as Versace.
The Versus brand is endorsed by Versace. This line of clothing is more appropriate for young consumers as the designs are sexy and bold.
Palazzo Versace hotel in Gold Coast, Australia was started along with the sunland group in 2000. The relationship between the groups led to the consturction of another hotel in Dubai, U.A.E. The hotel has helped the brand to succeed in many ways. People who can’t afford Versace home furniture would want to stay in the hotel and when people who stay there like the luxurious furniture and setting they offer, they can buy it at the Versace Home store.The hotels by Versace are an excellent example of the relationship between the consumer and the brand because it satisfies the luxury needs of the consumers through the lifestyle and the clothes it …show more content…

They also have updates about the companies activities for example, on various social media pages they had information about the new hotel opened in Dubai, U.A.E. Social media pages focuses mainly on the clothing sector and very little information about home furnishing.

SWOT Analysis

Strengths
• Brand loyalty Due to Versace’s strong and stable demographic segmentation, they have been able to retain customers. Versace’s products portray the consumer’s status in the society.

• Exploring opportunities
Versace has now moved towards markets such as home furnishings, hotels, etc. This extinguishes Versace from other fashion brands because they offer a wide range of products and services, which completes their consumer’s lifestyle.

• Celebrity Ad campaigns
Versace uses most prominent celebrities for their Ad campaigns. The products are recognised when celebrities wear them to major events.

Weaknesses
• Competitive

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