Gucci Continues China Expansion
(Source: London Guardian)
Gucci
CEO Patrizio Di Marco will not slow down China expansion plans, despite the
current economic climate. The
company just opened its 28th Chinese location and plans to end the year with
between 30 and 32 stores.
"We're
not planning to scale back, especially considering the future importance of this
market," Di Marco said in London's Guardian.
"Chinese
consumers will probably be the driving force of the luxury industry in the years
to come because of the size of the market and because of easier possibilities
for consumers to travel," added Di Marco.
Di
Marco plans for 40 stores in China, compared to 50 currently in Japan and 70 in
Europe.
"Very
likely, China will assume the role that was Japan's to be the backbone of the
luxury industry," said Di Marco.
(Posted
8 June 2009)
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