Italian luxury fashion group Versace continued its strong growth in the first quarter of 2014, predicting a double-digit rise in sales.

In 2013, the company posted a 17% annual rise in total sales to €479 million, supported by increasing sales in all markets. The figure was mainly driven by sales at the company's high-end collection Versace Prima Linea, which represented 60% of the total amount. Meanwhile, sales of fragrances and watches soared 24% and 16%, respectively.

The group's net profit climbed 28% to €10.9 million and its operating profit jumped 60% to €71 million, as a result of supply chain improvements and other changes, chief executive Gian Giacomo Ferraris reported.

Sales from directly operated shops grew 19% last year, with the United States seeing a 32% rise and Asia seeing an increase of 19%. The proportion of direct sales is 56% of the total sales.

Ferraris believes that the brand had started demonstrating its potential, following a four-year restructuring effort. The Wall Street Journal cited the CEO as saying in an interview that his company would focus on investments this year, the result of which would be seen in 2015 and 2016.

The group plans to increase the number of directly operated shops from 137 to 200 within three years. It will seek to open new stores in emerging markets and enhance its product offering as part of efforts to double its sales by 2016. Having spent €24 million on the expansion of its retail and e-commerce presence, the group has now pledged to further boost investments, particularly in e-commerce.