Gucci Group N.V. announces yesterday that it has reached an agreement with its Spanish franchisee, that effective immediately Gucci will operate directly its three stores in Madrid, Barcelona and Bilbao. The agreement, which transfers key store assets and employees to Gucci, will provide Gucci 100% control of its Spanish retail activity. Commenting on the agreement, Brian Blake, President and Chief Executive Officer of Gucci Division, said: “ The Spanish market is very strong and has tremendous potential for growth.
We expect our new stores to grow rapidly and soon contribute meaningfully to Gucci’s European sales and profits. We look forward to integrating the Spanish operations into Gucci’s network of directly operated stores which, with this transaction, number 146 worldwide.”
Domenico De Sole, President and Chief Executive Officer of Gucci Group, said: “I am delighted to announce further progress in the pursuit of our global brand management strategies. With direct control of the Spanish market, Gucci enhances its position as a worldwide leader in the luxury goods industry.”
Gucci Group N.V.
is one of the world's leading multi-brand luxury goods companies. Through the Gucci, Yves Saint Laurent, Sergio Rossi, Boucheron, Roger & Gallet and Bédat & Cº° brands, it designs, produces and distributes high-quality personal luxury goods, including ready to wear, handbags, luggage, small leather goods, shoes, timepieces, jewelry, ties and scarves, eyewear, perfume, cosmetics and skincare products. The Group directly operates stores in major markets throughout the world and wholesales products through franchise stores, duty free boutiques and leading department and specialty stores.
The shares of Gucci Group N.V. are listed on the New York Stock Exchange and on the Euronext Amsterdam Stock Exchange.
