Luxury fashion brand Gianni Versace is preparing to relaunch into the Australian retail market, following a six-month absence which saw its national license change hands.
Gianni Versace has reopened its flagship store in Queensland’s Palazzo Versace Hotel and will unveil a concept site at Melbourne’s Crown Casino next month.
Gianni Versace disappeared from the Australian landscape in April after Sydney-based licensee Zestland failed to renew its rights for three stores in Sydney, Melbourne and the Gold Coast. Domestic wholesale rights for Versace Sport, Versace Jeans Couture and Versace Collection were also left unrenewed.
A confidentiality clause meant representatives were unable to reveal what led to the demise.
One of Zestland’s three directors, John Hii, has since branched out and renegotiated the Gianni Versace retail license for Australia.
Hii’s new company, Zestland Prime, will not operate a wholesale division but will focus on rebuilding the brand’s retail presence across key capital cities.
Operations manager Richard Costanzo said the restructure meant product will now be offered to correspond with European seasons.
“In the past, to not harm our wholesale clients, we delayed the arrival of the stock,” Costanzo said. “To take the brand out of the country for six months is not good for anyone’s business but ... we are now focused on moving forward and we take it in our stride.”
The sleek new stores will stock seasonal collections from Gianni Versace, Versace Home and Versace Collection, which is now distributed by an independent wholesaler in Australia. Constanzo said the stores will no longer stock Versace Jeans Couture or Versace Sport.
Earlier this month, the luxury retailer closed its network of three stores in Japan. A spokesperson for the European brand told financial news agency Bloomberg the boutiques “no longer represented the brand image” but hinted a return to the market in the not too distant future.