Versace denies dispute

Italian fashion house Versace yesterday “unanimously and categorically” denied that there is friction between design head Donatella Versace and chief executive Giancarlo Di Risio. There has been speculation recently about Di Risio leaving the company, after disagreements with owner Donatella Versace over strategy and cost-cutting. Versace also reported a first-quarter fall in revenues of 13.4 per cent compared with last year, “but with a positive net result”.