Luxury business keeps up: Gucci augments revenues by 35% in the third quarter and in 9 months turnover nearly reaches 2017 incomes

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The brand’s quarterly turnover goes up, moving from 1,5 up to 2 billion euros: in terms of percentage, such outcome means that revenues have increased by 35% on annual basis. Direct retail is worth 83% of sales, as it is growing in double figures in all the geographical business areas: in Asia and Pacific zone (where even chief executive officer Marco Bizzarri expects Chinese to slow down) earnings have been increasing by 42%; +25% in Western Europe, +33% in Japan. The same positive trend applies to wholesale business, which goes up by 36%, and e-commerce, which enjoys a remarkable boost (+68%). Gucci’s quarterly accomplishments are evidence that the fashion brand, led by Alessandro Michele, is stronger (for the time being at least) than geopolitical instability, which might deeply jeopardize the luxury market: in fact, in the first nine months of the year the company’s turnover reached 5,9 billion euros, therefore rising by 40,8% compared to 2017 same period and, most of all, getting very close to the overall turnover (6,2 billion euros) of last year. Gucci is the flagship brand of French holding Kering: its revenues will supposedly exceed 8 billion euros at the end of the year.

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