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Gucci keeps rising!

Sales up 37%

Gucci keeps rising!  Sales up 37%

Gucci’s incredible growth keeps increasing, with comparable sales up a astonishing 37% from last quarter, and online sales doubling! 

Designer Alessandro Michele's heavy reintroduction of the classic Gucci themes of crystal and floral motifs has increased its young luxury shoppers market share with 49 percent, within that demographic, in its latest quarter. Kering Groups division that includes Saint Laurent, super hyped Balenciaga, and Alexander McQueen also grew by double-digit percentages.

“We delivered a remarkable performance in the first quarter and are confident that our brands can outperform the market in the remainder of the year through innovation,” their chief financial officer Jean-Marc Duplaix reported. 

Largely helped by a surge in the Chinese markets demand for luxury goods, has increased the market share of companies like LVMH, who owns Louis Vuitton and Dior, L’Oréal, which sells Lancome makeup and Armani perfumes. Kering shares have risen more than 70 percent over the last year, Gucci’s gamble on using hip artist and unusual runway tactics, such as props of prosthetic heads and baby dragons seems to have worked. Kering is moving towards becoming a purely luxury oriented group by setting Puma and skateboard label Volcom up for sale, and also cutting its 50 percent stake in Stella McCartney’s fashion brand.