Gucci’s Record Sales Propel French Luxury House KeringBy
Label’s sales rose 21% in fourth quarter, trouncing rivals
Designer Alessandro Michele reignites interest in key brand
Gucci’s $2,000 Sylvie leather shoulder bags and $1,190 studded leather pumps are flying off the shelves, propelling parent company Kering SA to its fastest sales growth in four years and further lifting spirits in the hard-hit luxury-goods industry.
The Italian fashion brand’s revenue advanced 21 percent in the fourth quarter, almost twice as fast as analysts expected, Kering said Friday. Full-year sales at the business, Kering’s largest, exceeded 4 billion euros ($4.3 billion) for the first time as creative director Alessandro Michele reignited interest in the label. The shares rose 2.6 percent to 230.15 euros at 10:48 a.m. in Paris…
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