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May 15, 2008
Gucci Looks Abroad As U.S. Sales Slow
Despite a 3.3% sales dip in the first quarter of this year, Gucci is planning aggressive international retail growth. The Italian luxury brand is has new stores opening in Prague, Cape Town, Macau and Auckland, New Zealand, saying that retail consists of 70% of its business.
In existing stores, it says that it is seeing a lack of demand for “midrange” items, which affected its first quarter results. It remains to be seen whether it can successfully feed demand for this niche in international markets.
Posted by Blacks on May 15, 2008 09:54 AM
