Leather and shoes ‘at the heart of Gucci’s identity’ says PPR chairman
Following its full takeover of Gucci Group last week, French retail group Pinault Printemps Redoute has said it will focus the core Gucci brand on leather goods and footwear.
Speaking at PPR’s annual general meeting yesterday, chairman Serge Weinberg reported double digit sales growth of the Gucci brand in the four months to April ’04. Within the wider Gucci Group, sales by the luxury shoe maker Bottega Veneta climbed by more than 50%. “We have to pursue Gucci’s development in products at the heart of its range, in leather goods and shoes which are at the heart of Gucci’s identity and which provide 70% of its turnover,” commented Weinberg.
Gucci Group is one of the world's leading multi-brand luxury goods companies. Through the Gucci, Yves Saint Laurent, Sergio Rossi, Boucheron, Bottega Veneta, Bédat & Co., Alexander McQueen, Stella McCartney and Balenciaga brands, Gucci Group designs, produces and distributes high-quality personal luxury goods. Between them, the different brands cover ready-to-wear, handbags, luggage, small leather goods, shoes, timepieces, jewellery, ties and scarves, eyewear, perfume, cosmetics and skincare products. Following the PPR buyout, Gucci Group shares will be delisted from the Official Stock Market of Euronext Amsterdam as of
