Versace does not fear recession

International luxury brand Versace will not pander to recession by lowering its prices or offering dramatic sale discounts, says the label's CEO Giancarlo di Risio.

International luxury brand Versace will not pander to recession by lowering its prices or offering dramatic sale discounts, says the label's CEO Giancarlo di Risio.

"We want to offer a real luxury and not to open our doors to the consumption of young girls who can put the designer handbag of their dreams on their arm with less than 300 Euros. We are not interested in that,” vogue.co.uk quoted Risio as saying.

Risio maintains that the Versace client is looking for something exclusive and does not mind paying top price for its collections.