Gucci Group announces record fourth quarter 2003
Gucci Group N.V, has today posted record revenues and profits for the fourth quarter 2003 – spurred by the popularity of its Gucci and Yves Saint Laurent leather goods collections.
Q4 net revenues were up 3.8% to €741.7 million while profits leapt 29.2% to €148.9 million. For the full year ended
Gucci division retail sales for the fourth quarter increased 15.5%, accelerating to a substantial 17.2% in January 2004, fuelled by the selling power of its leather goods and footwear (+21.2%). Profits, meanwhile, were at the highest ever quarterly rate of €167.8 million, an increase of 9.4%.
The Yves Saint Laurent brand also generated exceptional growth, with retail sales climbing a massive 44.9%. Leather goods sales, driven by the success of the Saint Tropez handbag and Mala Mala line, went up 34.7% while footwear revenues rose 20%.
Domenico De Sole, Gucci Group president and CEO said: “These are the last results announced by this management team, and I am proud that we were able to deliver such an outstanding performance. Although Tom Ford and I and other senior managers will leave the Group in the coming month, we leave behind a strong and vibrant business built around some of the best brands, strongest management, most creative talent and committed people in the fashion industry.”
