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Home >> News Center >> Gucci Sticks To Shoes
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Taiwan Bags and Gloves Fashion Show held in Beijing
MARI AXEL Spring/Summer collection
(size) big fit small (2006-03-18)
Gucci Sticks To Shoes
    Pinault Printemps-Redoute is relying on leather goods and footwear as a basis for a strong Gucci future. PPR chief Serge Weinberg, who is in charge of Gucci until the new CEO, Robert Polet, takes over on July 1, said at the annual general meeting on Tuesday that the heritage leather goods make up for 70 per cent of turnover as it is. He said that Gucci saw "double-digit" sales growth in the four months up to the end of April, while YSL, which is targeting $1.21 billion turnover "as soon as possible", saw revenue growth of 15 per cent. "We have to pursue Gucci's development in products at the heart of its range, in leather goods and shoes," said Weinberg, who is under pressure to let Gucci prove itself without the help of powerful fashion due Tom Ford and Domenico de Sole. While he did not say that ready-to-wear for the label was unimportant, he did admit that it was much less dependent on it than YSL Rive Gauche. Bottega Veneta saw a 50 per cent sales rise over the period while its sister Gucci-owned labels Boucheron, Stella McCartney and Alexander McQueen grew only 5-6 per cent altogether, raising further speculation that PPR might not uphold long-term commitment to them. 


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