Subject category:
Strategy and General Management
Published by:
IBS Research Center
Length: 12 pages
Data source: Published sources
Topics:
Luxury goods industry; Gucci Group; Gucci; LVMH (Louis Vuitton Moet Hennessy); Richemont; Robert Polet; Mark Lee; Guccio Gucci; Pinault-Printemps-Redoute (PPR); SARS (Severe Acute Respiratory Syndrome); Fashion accessories; Luxury goods in Asia; Luxury goods in Europe; Slump in sales; Cosmetics, jewellery
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Abstract
The Italian company, Gucci, was a small luxury leather goods store when it started, in 1921. But in 2005, it has grown into a multi-brand conglomerate with a colourful past and a bright future to look forward to. Gucci is the third largest luxury goods company in the world after Louis Vuitton Moet Hennessy (LVMH) of France and the Swiss group Richemont. Owing to an economic slump and a series of other global events, Gucci, along with other luxury goods companies, saw a bad run in recent years. But since 2004, when Robert Polet took over as the Chief Executive Officer of the group, things have started looking up for the group. Polet has drawn up ambitious plans for the expansion of the company. Experts wondered whether the company will be able to bounce back as envisaged by Polet. Or are his plans too ambitious?
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Abstract
The Italian company, Gucci, was a small luxury leather goods store when it started, in 1921. But in 2005, it has grown into a multi-brand conglomerate with a colourful past and a bright future to look forward to. Gucci is the third largest luxury goods company in the world after Louis Vuitton Moet Hennessy (LVMH) of France and the Swiss group Richemont. Owing to an economic slump and a series of other global events, Gucci, along with other luxury goods companies, saw a bad run in recent years. But since 2004, when Robert Polet took over as the Chief Executive Officer of the group, things have started looking up for the group. Polet has drawn up ambitious plans for the expansion of the company. Experts wondered whether the company will be able to bounce back as envisaged by Polet. Or are his plans too ambitious?