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Gucci revenue up 49 per cent

Gucci’s revenue expanded by 49 per cent from a year earlier at constant currencies in the first three months of the year.

The Italian fashion house wants to be the world’s biggest luxury label. Gucci also targets an operating margin of more than 40 per cent, compared to around 34 per cent in 2017.

The brand expects sales to grow at twice the market rate in the coming years. It has had a top-to-bottom makeover, from new product ranges to stores redesigned to make them more welcoming, in vivid hues and draped in velvet.

In a notoriously fickle industry, where tastes can change rapidly and ever more so with the influence of social media, brands are battling it out to capture buyers' attention with eye-catching designs or events like spectacular catwalk shows.

Gucci’s latest mid-season Cruise collection presented in France featured models in an intricate array of colorful prints making their way down a flamed-filled runway by night.

Thanks to further store facelifts, Gucci aims to further boost sales densities.

Gucci is part of the Kering conglomerate that includes other labels like Saint Laurent.

The luxury industry, fuelled by Chinese demand, is expected to pick up pace in 2018, with global revenues forecast to expand by six to eight per cent at constant currencies.

 

 
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