Italian fashion house Versace has ended its licensing deal with Ittierre Holding. Currently in special administration for the production and distribution of its VJC and Versace Sport Lines, it said.
Ittierre has licences for the Just Cavalli, Galliano and Costume National fashion lines.
IT Holding, which owns Milan fashion house Gianfranco Ferre, was put into special administration in February under the weight of financial pressure. It is now in the hands of three government-appointed commissioners who have to draw up a plan for the group. They are not commenting on the process. -Reuters
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