Retail in Asia

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Gucci’s image makeover in China

According to a 2011 Bain & Co. Chinese luxury survey, Gucci stood as the third most desired luxury label in the country behind Louis Vuitton and Chanel. But for Patrizio di Marco, Gucci’s president and CEO, that’s not good enough.

Gucci entered the Chinese market by opening 2 stores – one in Beijing, the other in Shanghai – in 1996. As late as 2004, the label maintained only 4 stores nationally.  But in December 2011, Gucci counted 46 stores in 32 cities on the Mainland and 57 stores in Greater China among its assets. Di Marco says 10 more are on the way this year. With them, he hopes to usher in three prongs of change for his brand’s image.

(Source: red luxury)