Gucci sales start to climb under Alessandro Michele's direction
The Alessandro Michele effect
It has been a disappointing year for Gucci on the business front, having experienced four consecutive quarters of declines. But with the creative side of the brand enjoying a resounding boost under the new creative direction of Alessandro Michele, sales at the Italian brand have risen 4.6 percent in the three months to June 30. This exceeds expectations for a 3.2 percent decline, according to Exane BNP Paribas.
"We are particularly satisfied with the progress at Gucci and the positive reception given to the brand's new creative direction," said François-Henri Pinault, Kering's chairman and chief executive officer. But Pinault went on to say:
"While we are pleased with all the progress Gucci has made in such a short time and confident in its achievements, please do keep in mind that these initiatives will not show their full translation into our accounts until the back-end of this year and in 2016," implying that he anticipates further climbs to be evidenced by the sales figures for the Autumn/Winter 15 collection – Michele's first to hit stores, via an international new boutique window display across 30 key flagships worldwide.