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Gucci reports sales growth of 49 per cent in the first months of the year

Gucci reports sales growth of 49 per cent in the first months of the year

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Text: Maddison Glendinning


Image: Imaxtree

Thought the Michele effect was dying down? Not a chance...

Alessandro Michele's time at Gucci is undoubtedly one for the history books. The designer has managed to turn the brand into one of the world's most sought-after labels, so much so that the brand stopped going on sale early last year because it didn't need to. And although fashion is renowned for being unwaveringly fickle, it seems there's still no sign of Michele's maximalist aesthetic declining in popularity anytime soon. 

Case in point: the brand's Q1 sales figures. 

Fashionista reports that "for the first quarter of fiscal 2018, the Kering-owned brand saw a 48.7 per cent jump in comparable sales" with revenue coming in at just over Dhs8 million. The growth was across all sectors of the business. Additionally, it's e-commerce sales tripled from the previous year. 

Kering also reported strong sales from Saint Laurent and Balenciaga, noting that the latter's "excellent performance" led to an increase in its couture and leather goods categories. 

With the opening of Gucci's new flagship and Saint Laurent's biggest store in the world in the new Fashion Avenue extension in The Dubai Mall, we imagine there'll be a healthy dose of revenue streaming in from this region throughout the rest of the year, too. 

Now, discover more about the next limited edition collection by Gucci and Ignasi Monreal.

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