By  on December 16, 2008

MILAN — Despite the rocky economy, Gucci is staying the course, continuing to expand in emerging markets while building its base in established ones.

In line with this global retail push, the luxury goods house opened its first store in Budapest in October, and unveiled its first directly operated store in Munich last month. According to president and chief executive officer Mark Lee, one of Gucci’s “most valuable assets is the ability to balance its leadership and exclusivity between historical and new markets, while staying relevant to different customers all over the world.”

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