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Gucci sales start to climb under Alessandro Michele's direction

Gucci sales start to climb under Alessandro Michele's direction

The Alessandro Michele effect

After reporting a string of declines, Gucci sales are on the rise with the help from a fresh new creative direction from Alessandro Michele. And Kering boss warns, the best is yet to come…

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.