Versace is an Italian luxury fashion company that is well-known across the world. Gianni Versace launched the company in 1978, and Michael Kors Holdings just purchased it for $2.12 billion.

Versace is one of many utter brands that combines street culture and high fashion to produce unforgettable creations. Versace costs more than the bulk of apparel companies on the market. With almost 40 years of expertise including some of the most successful runway collections of all time, it’s no wonder that this label can afford to charge such exorbitant prices for its products.

This business is even among the most costly clothing labels in the world, with couture goods costing upwards of $1000.

Versace is one of the few luxury labels that charge outrageous prices for each of its items. Many individuals will undoubtedly find the cost unaffordable.

Amazingly, the brand is expanding. Why is it even possible? Let’s check out the answer!

Versace offers status and image

Most individuals buy Versace because they appreciate the level of quality of the garments, but it also offers prestige and makes them feel like they are part of an elite club of people who can afford the brand while most people cannot.

Some customers may have to save for months in order to acquire a Versace piece, whereas others can afford many products on a regular basis. Considering that a given brand can only be purchased by a restricted number of individuals promotes the brand more attractive, competitive, and pricey.

Moreover, when you see somebody wearing a Versace item, you know that individual has the means to buy it, therefore you view that person to be affluent. Versace seeks rich clients in order to keep the brand exclusive; these customers have significant prestige in the eyes of others.

Versace has strict quality standards