Since appointing Alessandro Michele as its creative director in 2015, Gucci has experienced a brand image makeover that has driven the luxury Italian label to the top of fashion’s creative and business spheres. Now, the ascent is even more verified by Gucci’s latest sales numbers.
In the first fiscal quarter of 2017, Gucci made a record 48.3 percent jump that saw sales improvements in all regions and product categories. Wholesale increased by 37% and its retail sales grew 34%. This officially places Gucci ahead of its fellow Kering-owned fashion house Saint Laurent, which saw a similar brand makeover with Hedi Slimane and stood above Gucci in sales until now.
Both Gucci and Saint Laurent (which saw a 33% sales jump this quarter) have contributed to a robust quarter for parent company Kering, which experienced a comparable revenue growth of 28.6% to $3.9 billion USD.
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- Image Credit
- Glen Luchford/Gucci