Versace Quits Japan After 30 Years

"Gianni Versace, the favoured brand of celebrities such as Elton John and Jennifer Lopez, is pulling out of Japan after nearly 30 years – highlighting the depth of the consumer slump in one of the world’s largest luxury markets," the Financial Times reports. "The company’s retreat reflects Japan’s diminishing role as a consumer of luxury goods such as diamond-studded watches and crocodile-skin handbags." Stay tuned... leaving a mall near you soon.