 |
Departure of Design Duo Fails to Dent GucciSales at Gucci have accelerated following the departure of the Italian fashion house's celebrated management and design duo, Domenico De Sole and Tom Ford, its French parent company Pinault Printemps Redoute announced on Monday.
As well as dispelling some of the doubts over Gucci's ability to weather the departure of its star designer, the figures confirm evidence from the likes of Burberry and Christian Dior that continental Europe is enjoying vigorous growth.
On a reported basis, Gucci enjoyed double-digit growth in May and June. This compared to an increase of 4.9 per cent to €595m logged during the second quarter to April, when Mr De Sole and Mr Ford left the luxury goods group.
The figures left PPR shares down 1 per cent at €79.95. Overall group sales at the retail and trading conglomerate fell 6 per cent to €5.61bn ($7bn) from €5.97bn. Excluding Rexel, which is slated for sale, revenues at "New PPR" rose 5.1 per cent to €3.9bn.
Serge Weinberg, PPR's chief executive, said: "Recent sales trends and the positive response to Gucci's latest collections further bolster our confidence in the brand portfolio and teams, as well as in the organisational decisions we have made."
The first collections from the team of little known designers that has replaced Tom Ford, creative director, have been well, if not ecstat
more: news.ft.com/servlet/ContentServer... (86)
bookmark: 
21/7/2004 | Viewed 7,012 time(s)
|
|
