Gucci Raises its Sales

Gucci Group N.V. announced record revenues in December for its Gucci Division. Total revenues exceeded $182 million, an increase of more than 30 percent from a year ago. Retail sales were approximately $145 million, up nearly 40 percent. This increase reflected the five-week retail calendar in December in certain regions.

According to a company statement, this growth reflected strength throughout the world; the division experienced double digit increases in each major region – U.S., Europe, Japan and the rest of Asia. Gucci said it has made this announcement because of concerns expressed by the investment and financial communities about the recent performance of the luxury retail sector.

Gucci Group N.V. (Amsterdam-based, but operated out of Milan) includes such luxury brands as Gucci, Yves Saint Laurent, Sergio Rossi, Boucheron and Bedat. The Group also directly operates stores in major markets throughout the world. And it wholesales products through franchise stores, duty free boutiques and department and specialty stores.