Gucci sales not slowing yet, has plan B ready

PARIS Fri Dec 2, 2011 2:15am EST

PARIS Dec 2 (Reuters) - Luxury brand Gucci has not seen any impact on its business from global economic woes but it would be prepared to react quickly and cut costs if sales slowed, its chief executive said in a newspaper interview.

Patrizio di Marco told Le Figaro that Gucci, part of French luxury and retail group PPR, had a "Plan B" that could see it delaying store improvement work while sticking to its store opening programme.

"We are not seeing a slowdown in our growth at this time...(But) we cannot rule out an impact (of global economic woes) on our local markets," he said. "2012 may be be difficult, but we must keep on investing for the medium and long-term."

Asked whether he was satisfied with Gucci's perfomance in France, di Marco said: "France is a difficult market. The brand is not known as much as it should be. Gucci must be the first Italian luxury brand that the French have in mind. We still have a growth potential,"

To boost brand awareness, Gucci plans to open seven selling points in Galeries Lafayette stores across France. (Reporting by Dominique Vidalon; Editing by Dan Lalor)


After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.