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Tag: Gucci

  • Chinese language shopper sentiment rebounds in Might

    Chinese language shopper sentiment rebounds in Might

    Chinese language shopper sentiment rebounded in Might with favorable inventory market performances boosted shopper sentiment.

    The Bankcard Consumption Confidence Index edged up zero.32 factors from a month in the past to 83.99, China UnionPay stated in a report at present.

    Expenditure at eating places and eateries have been up four.9 % from a month in the past whereas spending measurement at malls and purchasing facilities rose 13.75 %.

    Shoppers’ sentiment was in a secure situation with each the inventory market and property sector rebounding in current months and is predicted to select up additional with Buying Managers Index and different macroeconomic knowledge suggesting enchancment.

    The warming up of the property market in current months additionally pushed up house home equipment gross sales, which rose four.09 % in Might from a month in the past.

    Spending at main home vacationer locations and scenic spots surged 43.four % whereas spending worth at fuel stations additionally rose 9.6 % as commuting and touring picked up prior to now month.

    Current worth cuts by international trend homes resembling Burberry and Gucci of their home retailers pushed up luxurious luggage and leather-based gross sales by 32.9 %.

  • Gucci surprises China with up to 50% off discounted goods

    Gucci surprises China with up to 50% off discounted goods

    Gucci is offering as much as 50%off its goods in China as the Italian luxury fashion label aims to clear older merchandise designed by its former Creative Director Frida Giannini. Sales in Gucci’s China branches have encouraged lines of shoppers to form since sunrise to bag the best deals.

    The Italian fashion house’s CEO Marco Bizzarri is working to reposition the brand as a result of its disappointing figures and declining demand in Asia.  In order to do this, Alessandro Michele was promoted to the Creative Director position earlier this year, replacing Frida Giannini who held the post for past nine years. Michele’s first full collection is due to be released in stores later this year.

    Gucci’s overall sale performance has been low in China as of late, due to the country’s economic slowdown. The Asia-Pacific region, excluding Japan, accounts for 38% of its revenue so losses in this area have made a significant impact on overall earnings.

    Gucci reported its weakest quarterly performance in more than five years last month. The luxury retailer hopes that Michele’s new Gucci will result in its comeback and recovery.

    The sale, which started on Wednesday has been reported to last until next month, the exact dates are yet to be confirmed.

    Talya Misiri 

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  • Gucci China blamed for Kering slowdown

    Gucci China blamed for Kering slowdown

    Falling sales by Gucci China have been blamed for a higher than expected drop in Gucci parent Kering’s first quarter global sales.

    Sales at Gucci’s own 502 retail stores fell four per cent in the quarter and overall sales, on alike-for-like basis, fell eight per cent.

    The worst performing region was Asia-Pacific, where sales slumped a full 10 per cent. Sales in Greater China “deteriorated compared to earlier in the year”, France-based Kering said in an earnings statement.

    Sales rose six per cent in Western Europe and remained stable in North America.

    Kering has responded with a promise to give its flagship Gucci brand, which accounts for 60 per cent of its sales, a revamp.

    “Our priority is to give Gucci new impetus,” Kering finance director Jean-Marc Duplaix said.

    The company blamed the sales drop off as part of a transition period, following its sacking of the brand’s CEO and design director last December. It has since split the roles, naming Marco Bizzarri as CEO and in-house designer Alessandro Michele as creative head. Bizzarri is credited for having turned around Bottega Veneta.

    Michele’s strategy is to improve its entry-level offer, including small leathergoods and handbags.

    Gucci will also continue to invest in building its online business.

    Bottega Veneta, Kering’s second brand, also experienced slowing sales in the first quarter, but maintained growth at 3.1 per cent on a same store basis.

    The company cited poor trading in Hong Kong and Macao for the drop, specifically a change in the demographic of mainland Chinese tourists. Hong Kong achieved 19 per cent of its sales in Hong Kong and Macau.

  • Fashion executive sets about fixing Gucci

    Fashion executive sets about fixing Gucci

    When Marco Bizzarri became CEO of Bottega Veneta in 2008, the leather-goods brand was flying high, with demand soaring for its trademark woven bags. Even so, the Italian executive worried that fashionistas’ enthusiasm would eventually cool.

    So he shook up Bottega’s assortment. He added more shoes and clothes and injected more colorful, fashion-oriented designs from creative director Tomas Maier.

     

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  • Gucci to check Chinese suppliers after TV exploitation charges

    Gucci to check Chinese suppliers after TV exploitation charges

    Italian fashion house Gucci said on Monday it would strengthen controls on its suppliers after a television program showed Chinese employees working more than three times their official hours to assemble its handbags.

    The head of a Gucci subcontractor told an investigative program broadcast by RAI state television on Sunday that Gucci was aware it irregularly employed Chinese workers.

    Aroldo Guidotti of subcontractor Mondo Libero (Free World) said the employees toiled away for as long as 14 hours a day, while they were supposed to work only for four hours, to assemble handbags that he sold to Gucci for EUR24 (USD29).

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