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Italian fashion brand Versace may list in America or Asia

Italian fashion house Versace may choose the United States or Asia for its planned stock market listings. This follows other well-known Italian brands like Prada and Ferrari, who took the same route. Private equity group Blackstone that bought a 20 percent stake in Versace in 2014, will be working on the initial public offering. The group expects to close 2015 with sales of more than 630 million euros ($703 million), up from 549 million euros last year. Versace, which is now led by its creative director Donatella Versace, returned to profit in 2011 after struggling for years post the murder of founder Gianni Versace in 1997.