Remember Versace? Yes, they are still around and the boutique is hosting a 50% off sale. A 50% off sale at this time of year is not at all newsworthy but when all the luxury labels were discounting merchandise last year, Versace announced it would hold firm to its pricing scheme.
The horror of teeny-boppers carrying Versace bags through their local mall caused the company to revive its lower-priced Versus line, which had been discontinued in 2005. Subsequently, Versace has hired a new CEO, fired their CEO and fought off rumours of bankruptcy.
Fast forward to Christmas 2009 and we have 50% off. What is even more shocking is that last week, the boutique discounted prices 75% off as part of invitation-only sale. As a matter of fact, one invitation holder tried hocking their discount on Craig’s List for $1,000. The entrepreneurial posterpointed out that discount “means you can buy $10,000 worth of merchandise for $2500.” (A gift for math?!)
Unfortunately, the 75% off sale is over but our experience tells us that if a store is discounting deeply for friends and family, it’s only a matter of time until the discount is wide-spread. In the meantime, we’ll keep popping our head into Versace and let you know when the Medusa hits final markdown.