According to “Luxury Goods Worldwide Market Study, 11th Edition” (2012) “the luxury goods industry is now targeting 3 major customer segments - absolute, aspirational and accessible.” Versace prides themselves on being an elite brand marketed to a privileged group, particularly high income consumers who do not worry themselves with the financiаl frugаlity of their purchases. It was also the first non-hospitality brad to strategically implement a brand extension into the luxury accommodation sector - opening The Palazzo Versace, located on Australia’s Gold Coast.
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