Wednesday, June 8, 2016

Gucci´s Big Plans Revealed

The day after Gucci's very well received pre-spring/summer 2017 show, CEO Marco Bizzarri announced his plans to grow the brand by more than double the market average. Forecasting Gucci revenues at an unprecedented €6 billion for the long term (exact dates were not specified), WWD reports that Bizzarri outlined his growth strategy in a meeting excluding any press.

Bizzarri has reportedly pin-pointed e-commerce as a specific growth area, following the recent redesign of the Gucci website across key markets, and plans to more than triple the brand's online business; alongside reducing discounting, and expanding all product categories, including those under license.

Last year, Gucci registered sales of €3.9 billion, up 11.5 per cent from the previous year in response to the brand's reinvention spearheaded by Bizzarri and creative director Alessandro Michele.


Speaking at this year's Vogue festival, Michele discussed their cohesive vision. "When I explained to Marco Bizzarri and François-Henri Pinault my idea of Gucci, it was pretty crazy. But Marco was really quite in love with what I wanted to do."

Michele's playful new aesthetic has been fervently popularised by a younger clientele, with sales to clients aged under thirty-four rising to fifty per cent for the spring collection, versus the same period last year, according to the presentation slideshow, available on the Kering website.

Gucci stores have also received the Michele treatment; thirty-four have already been refitted and an additional fifty redesigns are scheduled for 2016, followed by forty to fifty a year in the following years.

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