Sales for the Gucci brand dropped 0.8% to €640.1 million on a comparable basis to the prior year during the quarter.  Revenue at Bottega Veneta decreased by 8.8% to €102.2 million, while sales rose at Yves Saint Laurent (+10.3%) and among their other brands (+9.7%), which include Sergio Rossi, Stella McCartney, Alexander McQueen and Balenciaga.

For the full year, Yves Saint Larent produced a stellar 22% revenue increase.

Chairman and CEO Francois-Henri Pinault said strong Gucci sales in China (up 42% in 2008) and Hong Kong were offsetting "big difficulties" in Japan.

Gucci Group also announced it was selling luxury watchmaker Bedat & Co. to Malaysia's Luxury Concepts Watches and Jewellery in partnership with current CEO Viviane Fankhauser.  Gucci acquired Bedat & Co. in 2000 but, according to Robert Polet, CEO and President of Gucci Group, the company "didn't reach the level of performance we were expecting."

Luxury Concepts operates four individual brand stores in Kuala Lampur, including a dedicated Bedat & Co. boutique