In Sectors

Gucci CEO confident about future of luxury

Despite worries about a slowdown in China and US luxury sales, Gucci CEO Patrizio di Marco told CNBC on Wednesday he is confident the future of the industry remains bright, particularly in the US.

"There’s been some slowdown (in the US), but this is a very important market in the luxury industry. It accounts for over 30 percent of the worldwide luxury market. It’s a very young market and a market that will grow," he said in an interview with "Closing Bell".

Gucci, which represents the bulk of valuation for parent company Kering, is also making a big investment online. After launching its US e-commerce site in 2002, the luxury retailer now operates websites in 28 countries.

(Source: CNBC)

Follow Retail in Asia on Facebook, Twitter and LinkedIn.

Get our top stories delivered to your inbox:

 

Stay ahead
Subscribe for free!
Register now
Stay ahead