GUCCI buys two leather manufacturers and announces

Patrizio di Marco, CEO of GUCCI confirmed this week the acquisition of the production sites of two Tuscan leather manufacturers TOSCOVAL and VALIGERIA TOSCANA. A joint venture company has been created, GT srl of which 51% is controlled by Gucci and the rest by the 2 manufacturers. According to Di Marco, the move is a strategic one ,considering GUCCI’s commitment to continue manufacturing all its products in Italy. Di Marco also annouced that by the end of 2010 a museum dedicated to Gucci will open in Florence.