Gucci’s top managers have already set a proper strategy, obviously focused on product. Looking at figures, they aim to increase the retail business by 3% on annual basis, fostering the wholesale direct management and planning to triple volumes of sales coming from the digital channel by opening new markets. They will also keep investing in Alessandro Michele’s creativity, therefore giving much attention to their streetwear product lines anyway: in fact, they drive marketing, even though they are not the core business of the brand (they are worth 15% of overall sales). However, starting points are rather positive: a concept restyling plan, currently underway in the stores, alongside, most of all, 2017 sales performance, are evidence of that. After outdoing Hermès and reaching Chanel, Gucci are ready to climb the hard luxury hierarchical scale. During the latest Investor Day, CEO Marco Bizzarri spotlighted the amazing accomplishments they achieved in 2017: 6,2 billion euros. He also pointed out that the aim of the fashion brand is to boost yearly revenues up to 10 billion euros. In doing so, Gucci has given a warning to Louis Vuitton, their traditional competitor: race to the top of luxury pyramid has just started.
Mighty Gucci give a warning to Louis Vuitton, while aiming to boost revenues up to 10 billion euros
