Gucci’s Chinese Revenue up in April After Bruising First Quarter
China shoppers are usually relied on by Gucci to make revenue. So when the Coronavirus hit China, it also hit the Italian fashion label when the store in Beijing was forced to shut down amid their economy lockdown. Although ever since the country came up from lockdown the revenues have been increasing for Gucci. One of the company's chief financial officer stated that some of the stores are doing really great in sales. The sales show that China's usual luxury shoppers were longing to spend soon after the lockdown. Chinese shoppers make up 30% of the company's sales and most of them come from international shopping. That is currently not possible since people really can't travel, therefore, sales are down.
Gucci seems to be really big in China out of all other designer brands. It would make sense for the shoppers who are used to buying it to want to splurge after being secluded from it for so long. Although I did not expect Gucci to be one of the company's to be doing good so soon after a shutdown. I expected high-end brands to wait as the economy got better in order for their sales to slowly rise. Gucci is doing well but I can only imagine how much better it will be as the economy does improve and go back to normal. Marketing wise I feel as if Gucci will always be Gucci, regardless of the amount of effort put into their marketing. Since it is a well-known designer brand people will always want to buy it.
hi alma,
ReplyDeleteYour article contained knowledge i did not know. I did not know that Gucci designer productions was made in China. I thought was a cool. One thing i noticed is China pandemic numbers are starting to decrease but with precautions do you think it will be on rise again? Will they have to stop production again?