After achieving its previous revenue target of 10 billion euros in 2021, Gucci has set its sights on revenues of 15 billion euros. Comparatively, Louis Vuitton, owned by rival French conglomerate LVMH Moët Hennessy Louis Vuitton, generated revenues of 16.7 billion euros in 2021.
Gucci has seen exponential growth since 2015, when Alessandro Michele took over as creative director and Marco Bizzarri as chief executive officer. Its revenue at the time was 3.9 billion euros. These days, that is almost equivalent to the brand’s sales in the Americas alone, interesting no ?
Gucci aims to increase the proportion of leather goods in its sales mix, and to target the Gen-Z market with aspirational categories, while also reinforcing its high-end offer to target mature customers.
Having achieved its target of raising sales density to 45,000 euros a square meter, Gucci is striving for a further 30 percent increase.
But dont forget Saint Laurent’s potential to become a megabrand, with a medium-term revenue target of 5 billion euros, double the 2.5 billion euros in sales registered last year. Kering also is targeting revenues of 2 billion euros for its eyewear division, launched in 2015. Pinault on the heels of Lvmh, not bad for a boss of whom Arnault said that the only diploma he had was his driving license.