I'm in the furniture business and have a customer we sold a purple velvet sofa to. After 5 years the purple color is rubbing off onto their clothing. We have sprayed fabric protector on a cushion hoping it would seal it but the color is still rubbing off onto a white towel. The customer told us they had covered the sofa with a sheet for 5 years before removing it, then discovered the color rubbing off.
Merced County California
It's too bad it took 5 years to discover the problem. The manufacturer may still be willing to help resolve this issue. You don't say what fiber the velvet is made from. cotton would tend to transfer more than a nylon or silk velvet. To start the process yourself, using CLEAN WHITE cloths--washcloths and hand towels work great--moisten the cloths with cool clear water and wring out so they are not dripping. wipe down all fabric surfaces---don't forget the backs of cushions and pillows. Always use clean water and clean WHITE cloths until the dye no longer comes off onto the cloth. this could take several passes over the fabric. Allow furniture to dry and test the fabric again. continue wiping until no dye is transferred. Allow to completely dry before sitting on the furniture.