Gucci is cool again
Baku, February 19 AZERTAC
The luxury and sportswear group Kering just announced its 2015 financial results, and one thing is certain: People are loving Gucci once more.
Kering said in its results statement that revenue in the fourth quarter jumped 16%, mainly because of the resurgence in popularity for its Gucci brand. Gucci sales rose 13% in the fourth quarter.
This is a pretty big deal for Kering because Gucci accounts for nearly two-thirds of its profit.
It added that shoppers in Western Europe and Japan were buying more. In fact, overall luxury goods revenue in Western Europe rose by 13%, and Japan posted a "third year of strong growth" with a 13.7% rise in sales.
Still, Bain & Company's 2014 China Luxury Market Study, which was released at the beginning of last year, showed that China's luxury-goods industry accounted for 29% of the global market. So being able to grow a luxury brand in this environment is a big deal.
"We are closely monitoring resource and capital allocation in order to bolster returns. I am confident that the work of our creative teams and the commitment of all our associates will enable us to extend our growth trajectory in 2016 and beyond."
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