Milan, Italy. Italian fashion house Gianni Versace SpA sait it may reach its €500 million revenue goal a year early as it expects profit margins to widen significantly while also weighing options that may include an initial public offering. CEO Gian Giacomo Ferraris cited strong demand for accessories for the fast growth. Retail sales at Versace have surged by more than 20% in the first quarter. Versace noticed a 46% increase in the US market in 2012 alone. The company had hired Goldman Sachs Group Inc. and Bana IMI Spa last year in an initial step to increase its profitability.
More Italian luxury goods companies are expected to enter the stock exchange as expectations of expanding luxury markets increase. Recently Moleskin SpA, Salvatore Ferragamo SpA and Brunello Cucinelli SpA made initial IPO’s; since its market debut Salvatore Ferragamo SpA has noted share gains of more than 100%.