Tuesday, 9 June 2009

Gucci Casts A Wider Net In China – 7/6/09

Gucci continues its expansion into China with plans to open several new stores before the end of this year. After celebrating the recent grand opening of their 28th store in China, Gucci’s CEO Patrizio di Marco told Reuters, "we're not planning to scale back, especially considering the future importance of this market. He also said, "look at a country like China. To have 28 stores, or to think of having 40 stores, is not excessive at all."

Di Marco seems confident of China’s role in Gucci’s future. And with good reason – last year, sales of Gucci in China, Hong Kong and Macao jumped 41.5 percent and helped to drive 8.1 percent revenue growth. At the moment at least, Gucci can do no wrong in China.

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