Must Read: Nike Reports Strong Quarterly Earnings, Versace Will Remain a Luxury Brand Post-Sale

Photo: Staff/Getty Images 

Photo: Staff/Getty Images 

These are the stories making headlines in fashion on Wednesday.

Nike reports strong quarterly earnings 
On Tuesday, Nike revealed that it beat estimates for first-quarter revenue as new launches of footwear and apparel caused sales to climb in North America. Revenue increased by 9.7 percent to $9.95 billion, edging past analysts’ estimates of $9.94 billion. {Business of Fashion

Versace will remain a luxury brand post-sale
Versace’s acquisition by Capri Holdings — formerly Michael Kors Holdings — does not mean that the Italian label is pivoting towards a more accessible positioning. In fact, Donatella Versace wants to make it clear that “Versace is a luxury brand, and it’s going to stay a luxury brand.” In an interview with Business of Fashion, Donatella and Capri CEO John Idol emphasized that they’re going to take Versace in the opposite direction of Michael Kors by bringing the Milan-based brand even further upmarket. {Business of Fashion}

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