Gucci'S Performance Continues To Decline, President Of Greater China Will Replace

The traditional luxury brand Gucci Gucci business showed no signs of improvement. Sales fell by 1.6% in the three quarter of September 30, 2014, down from 864 million 800 thousand euros in the same period last year to 851 million euros, a decrease of 1.9% over the base, far lower than the 0.6% decline expected by analysts, and a decrease of 5 consecutive quarters.

In the three quarter of fiscal year 2014, Kering SA opened 2 billion 606 million euros, an increase of 3.3% from 2 billion 523 million over the same period last year, a 4.4% increase over the previous year.

Since the change of Chinese leadership in September 2012, the new Chinese government's anti-corruption measures, its tolerance to economic slowdown and the Hongkong issue have made the most important luxury market in China become the "unbearable pain" of luxury goods groups. Two years ago, the confidence in the Chinese market will soon recover, and the traditional luxury goods groups including LVMH, Prada, Richemont and so on are all disappointed with the Chinese market at the same time.

Kering SA Jean-Marc Duplaix, chief financial officer of Kai Yun group, said Gucci Gucci brand had recovered after the two quarter. However, Hongkong accounted for some of the impact on the brand, while the Singapore market deteriorated with the decrease of Chinese tourists.

Gucci Gucci brand declined 2.4% in the two quarter, and he refused to give any timetable when Gucci Gucci brand could regain its growth.

By region, the Gucci Gucci brand declined three in the Asia Pacific region in the 4% quarter of the year, and the Western European market dropped by 1%. The US and Japanese markets rose by 8% and 4% respectively. By the low yen and the Ukraine crisis and sanctions against Russia, the Western European tourist consumption of Russian tourists and Russian tourists decreased.

Gucci Merinda, general manager of Taiwan region, will be the managing director of Gucci Greater China.

Before Thursday's three quarter earnings release, Kering SA (KER.PA) Kai Yun group also announced that Gucci Yeung Taiwan general manager Merinda Yeung will serve as the president of Gucci Gucci Greater China, to fill the vacancy after Carol Shen Shen Xiangmei left in January 2014.

Service Est e e Lauder Cos. Inc. (NYSE:EL) Estee Lauder for more than 20 years, has been the Carol manager Shen of China General Manager Shen Xiangmei joined Gucci Gucci 9 in 2012, only after serving the Gucci Gucci brand 18 months later, she left suddenly.

However, Merinda Yeung is also a "rookie" of Gucci Gucci brand. She joined the brand in January 2014, and has been working for Gucci Louis's biggest rival, Louis Vuitton Louis Weedon since 1999, from the store manager to the Retail Director, and then to join Chanel Chanel.

Merinda Yeung will be formally completed in January 2015 and report to the brand CEO Patrizio di Marco.

In 2014, it was a significant year for Gucci Gucci. At the beginning of September, the Kering SA group opened its own glasses business team, and the team's first plan was to withdraw the agent of Gucci Gucci 2 years ahead of schedule, and officially began its own operation since January 1, 2017.

Kering SA's decision to open the cloud group has shocked the luxury eyewear industry. At present, there is hardly any luxury group or brand that will take the spectacle business back to its own business. It is because the brand is relatively small. Even if the pure brand business of the big brands such as Gucci is about 100 million US dollars, even if the brand LVMH group's brand glasses business is also operated by agents.

Because the business of eyewear is mainly based on agents, it has spawned an industry monopoly giant such as Luxottica Group SpA (MTA:LUX; NYSE:LUX) Lu Xun group, whose annual income is 7 billion 300 million euros.

After the recovery of the agency, Gucci Safilo glasses, the second largest eyeglasses manufacturer in the world, the Italy glasses manufacturer Safilo Group SpA (SFL.MI) Xia Fei Nuo group lost a 100 million euro brand after losing the Giorgio Armani SpA Giorgio Armani agency in 2013, and the Giorgio Armani SpA Giorgio Armani proxy was taken away by its competitor Lu Xun Tai card group.

In addition to the change of Gucci brand in Gucci, the whole luxury department has made many major adjustments in 2014. In May of this year, Kering SA opened up the luxury sector to set up two departments: luxury fashion and leather goods and luxury watches and jewelry to promote the growth of its brand.

Gucci Gucci brand is independent of the above two departments. Its chief executive officer, Patrizio di Marco, joins Marco Bizzarri and Albert Bensoussan to join the Executive Committee of Kering SA Kai Yun group, and reports to the Group Chairman and chief executive officer of the company.

Fran ois-Henri Pinault continues to serve as chairman of the Saint Laurent board to ensure that her unique personality is preserved and the status of historic French high fashion house maintained.

Recently, Kering SA opened the cloud group and reappointed the CEO of Bottega Veneta, Brioni and Christopher Kane.

Yves Saint Laurent is still the best performing brand in Kering SA's opening luxury group. The controversial designer Hedi Slimane has been leading double-digit growth in its brand name. The three quarter revenue increased by 27.6%, an increase of 27.5% over the basis, from 177 million 800 thousand euros to 139 million 300 thousand euros in the same period last year.

Bottega Veneta brand revenue increased by 10.4%, an increase of 10.8% over the basis, although there is still double-digit growth, but since joining the 1 billion euro club, the growth rate has also slowed sharply compared with the previous double digits.

As of the three quarter of September 30, 2014

SA Kai Yun group

The total income reached 1 billion 676 million 600 thousand euros, an increase of 3.7% from 1 billion 617 million 100 thousand euros in the same period last year, an increase of 3.5% over the basis.

Kering SA Kai Yun group Puma SE (PUMG.DE) Puma brand was driven by the Forever Faster marketing campaign in early August, and its performance in the three quarter exceeded expectations, with revenue of 6.2%, which was 3% higher than that of analysts. It rose to 824 million 800 thousand euros from 847 million 800 thousand euros in the same period last year, an increase of 2.8%.

Kering SA Kai Yun group said that the Puma Puma autumn winter series driven western European market has an increase of 6%, footwear products began to resume growth, an increase of 2%.

The sports and lifestyle brand sector grew by 2.9% in the three quarter, from 896 million 200 thousand euros in the same period last year to 922 million 100 thousand euros, an increase of 6.1% over the previous year.