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Gucci
Chinese Luxe Smugglers Arrested for Tax Avoidance
(Source: China Daily)
Customs officials in Hangzhou, China, announced they arrested eight suspects for evading taxes on the importation of international luxury brands into the Chin . . . keep reading
Gucci Sales Slump 10% in Quarter
(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. . . . keep reading
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. . . . keep reading
Gucci Group Sales Up 21% in Emerging Markets
Despite a comparable store sales decrease of 3.4% globally for the quarter ended 31 March, the Gucci brand itself showed tremendous resilience. Sales for Gucci-branded merchandise rose 1% on a comparable basis while revenue for Bottega Veneta, Yves Saint Laurent and the Group's other brands all fell. . . . keep reading
Gucci Revenue Flat for Quarter; Will Sell Watchmaker Bedat & Co.
(Source: LuxuryBrandNetwork.com)
Gucci Group, the luxury division of French conglomerate PPR, reported a revenue rise of 0.2% (excluding the impact of currency fluctuations) to €931.8 million for the fourth quarter of 2008. For the full year, revenue rose 8.1%. . . . keep reading
Hugo Boss Shuffles Execs (1/4)
Hugo Boss has promoted its Chief Operating Officer, Hans Fluri, to Chairman of Red & Black Lux S.a.r.l., the parent company of Valentino Fashion Group, which in turn is the major shareholder of Hugo Boss AG. . . . keep reading
Stella McCartney Picks Outsider as CEO (12/4)
Stella McCartney has tapped Lanvin's current director of business development, Fred Lukoff, as its new CEO and President. He will replace Marco Bizzarri who is moving to head up Bottega Veneta. Both companies are divisions of Gucci Group. . . . keep reading
Gucci Offices Raided in "Spy" Scandal
(Source: WWD.com)
A spokesperson for Gucci Group has confirmed that the company is under investigation for the illegal "revelation and use of official secrets," reports WWD.com. . . . keep reading
Gucci Group Revenue Rises 8.8%
Paris-based Gucci Group, a division of PPR, reported an 8.8% revenue increase on a constant currency basis for the quarter ended 30 September 2008 compared to the previous year. . . . keep reading
Gucci Denies Booting CEO Lee
Despite year-to-date results that have failed to impress, Gucci's parent PPR insists CEO Mark Lee's has resigned voluntarily to "pursue other interests" and "rebalance" his life. . . . keep reading
Luxe Concept Stores Getting Super-Sized
(Source: Interntaional Herald Tribune)
In spite of real estate woes and financial pressure, top brands are investing in bigger, more expensive concept stores. . . . keep reading
Gucci Group Profit Jumps 36.4%
Gucci parent PPR reported that first-half revenue from continuing operations for its Luxury Goods division rose 12.6% while profit rose 36.4%, excluding the effects of currency translation. . . . keep reading
Q3+ Luxury Outlook: EXCLUSIVE ANALYSIS
(Source: LuxuryBrandNetwork.com)
Citing "strong momentum in the first half of the year," LVMH Chairman and CEO Bernard Arnault said the group "approaches the second half with confidence." . . . keep reading
Gucci Sees 16% Rise in Quarterly Sales
(Source: Reuters)
Gucci Group posted a same-store sales increase of 16% for the second quarter, before the impact of currency, sales and acquisitions. . . . keep reading
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