(Source: LuxuryBrandNetwork.com)

In the third quarter of 2009, sales of Gucci Group dropped by 10.0% on a comparable basis. Sales in directly operated stores posted robust performances, while wholesale activities suffered from the economic difficulties facing department stores and franchisees.

Sales of Fashion and Leather Goods were down 9% in the quarter, with performance mixed across regions: sales in emerging countries, which account for 32% of Gucci Group sales in the quarter, posted another period of strong growth (+10%). In particular, Gucci Group made further progress in Asia-Pacific excluding Japan (+25%), driven by outstanding growth in Greater China (+37%).

In mature markets, sales were down 17%, affected in particular by a drop in the number of Eastern European and Middle Eastern tourists.

Gucci Group is a division of PPR.  The Group's brands include Gucci, Bottega Veneta, Yves Saint Laurent, Balenciaga and Stella McCartney.

(Posted 3 Nov 2009)