According to Kering, millennials bought a lot of Gucci last year
So says its annual earnings report
Being that it's fashion month, all our favourite brands are naturally on our radar. From Carolina Herrera to Helmut Lang to Proenza Schouler, we've witnessed the kind of trends that's making us want to give our wardrobes a good reboot.
But no brand delivers quite like Gucci, are we right? It was only last week when Lyst confirmed it was the hottest brand for the final quarter of 2018. And now, adding to the Gucci love, Kering's annual earnings report for 2018 reveals that Gucci (its parent company) is doing pretty well on the financial front. Clearly, its status as the go-to luxe brand is translating to sales.
According to Fashionista, Kering overall saw comparable sales increase 29.4% over last year to around Dhs56.6 billion (USD$15.5 billion) and the majority of that came from Gucci whose sales topped Dhs33.1 billion (EUR€8 billion) for the first time at a growth of 36.9 percent.
Broken down further, the report found that it was millennials who mainly contributed to the stats – 62% to be exact. That included purchases across the leather goods and accessories. We're not surprised what with all of Alessandro Michele's innovative vision for the brand.
And it's not like Gucci are thinking about slowing down any time soon. Nope. They're going to be pushing bigger and further into cosmetics, which will totally suit Gucci-hungry millennials, because let's face it, beauty is oh-so-accessible.
Let's wait and see what's heading our way...
And speaking of beauty, Victoria Beckham is getting her own line.