GUCCI CEO expects challenging 2012

Gucci flagship store Shanghai

In an interview to Italian media last week, Patrizio di Marco, CEO of Gucci, PPR Group’s flagship brand, made a cautionary characterization of 2012, identifying several challenges internationally such as the elections in the U.S., the increase of VAT in Italy to 23% and a likely increase in VAT in France too. However, despite the challenges, Patrizio di Marco affirms GUCCI is perfectly prepared to deal with cyclical challenging times.

Although he would avoid making predictions on Gucci’s financial performance in 2012, di Marco said his company’s competitive set of advantages will likely play an even greater role, based on the three elements of the company’s philosophy ”cool, craftsmanship and sustainability”.

Patrizio di Marco also confirmed that GUCCI will continue to focus on directly operated stores, absorbing wholesale and franchising, with openings on all continents in 2012. From 316 stores in 2012, di Marco expects the total number of Gucci stores in 2012 to reach 400.