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Gucci Sets New Target of 10 Billion Euros in Sales

Gucci Sets New Target of 10 Billion Euros in Sales

Gucci Sets New Target of 10 Billion Euros in Sales
June 07
12:14 2018
Booking.com



PARIS — Having seen its sales jump 42 percent in 2017, Gucci has set its sights on the next revenue milestone: 10 billion euros.
The Italian luxury brand revealed the target, without specifying a timeframe, in a document published on parent company Kering’s web site to coincide with its investor day in Florence on Thursday, dedicated to Gucci and Kering Eyewear.
This would place it in the same league as Louis Vuitton, the world’s biggest luxury brand, owned by rival French conglomerate LVMH Moët Hennessy Louis Vuitton. Though LVMH does not break out sales for individual fashion brands, analysts pegged Vuitton’s revenues upwards of 9 billion euros in 2017.
Gucci maintained its strong momentum under chief executive officer Marco Bizzarri and creative director Alessandro Michele, posting sales of 6.2 billion euros last year, exceeding market expectations.
The maker of Dionysus handbags and $590 logo T-shirts also aims to increase profitability, with a recurring operating margin target of 40 percent, versus the 34.2 percent recorded in 2017.
Despite a strong comparison base, organic sales at Gucci vaulted up 48.7 percent to 1.87 billion euros in the first quarter, representing the fifth consecutive quarter of growth exceeding 35 percent.
The brand will face a tougher comparison base in the

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