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Friday, February 19, 2016

Gucci's Sales Jump 5% As New Styles Revive Brand

Gucci sales jump as new styles "turn heads"
The luxury fashion brand Gucci saw a better-than-expected a 5% rise in sales for the final three months of 2015.

 Gucci model's head - wearing large glasses and a woollen hat
The upswing follows two years of falling sales at the Italian brand.
The improved performance, which helped boost French owner Kering's full-year results, is being attributed to the appointment of a new designer.
 

Across the year as a whole Kering's net profits rose by nearly 32% to 696m euros (3540m) compared to 2014. Sales were up by 4.6%. to 11.6bn euros (£9bn)
Last year, Gucci took on Alessandro Michele as its new creative director and the first collection fully designed by him has been on sale since autumn.

In a statement the company said the "brand's new creative vision" had been well-received and provided "fresh impetus." 

Kering's other brands also reported leaps in sales. Yves Saint Laurent's like for like sales were up by 27.4% in the last three months of the year, and Puma's rose by 11.7%.
"Gucci has come in with a significant number of new styles that are starting to turn heads," according to Luca Solca, an analyst with Exane BNP Paribas.
Kering's shares rose by 1.3% in Paris following the results announcement.

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