By  on November 3, 2008

MILAN — Despite the rocky economy, Gucci is staying the course, casting a wider net and approaching emerging markets with significant potential, while continuing to build its more consolidated ones. In line with its global retail push, the luxury goods house has opened its first store in Budapest, Hungary, in October, as reported, and will unveil its first directly operated store in Munich, Germany, on Nov. 3.

According to president and CEO 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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