“The store in Mumbai was not quite a success and is being closed down due to lack of demand,” said Gupta. “Despite Mumbai being an attractive destination for a fashion giant, Delhi is a more practical choice in a lot many ways.”

Premium space, for instance. “One of the big problems in the growth of high-end brands is the absolute lack of luxury retail space. We have tied up with DLF for space at their upcoming Emporio luxury malls.”

Versace mainline would be launched by March 2008 at the Grand Hotel, Vasant Kunj, while Versace Jeans Couture would make a debut at two exclusive boutiques in South Extension and DLF Emporio Mall, Gurgaon. DLF is set to open up more such malls in Mumbai (in 2009), Hyderabad (2010) and Chennai (2011) and there will be a Versace boutique at each of these malls.