What Is The Half Off Promotion Of Gucci In The Chinese Market?

At the gate of the Gucci store in the shopping mall of Shanghai international financial center, there are nearly 50 queues waiting for the store to open at 10 o'clock.

A customer at the end of the team said he had come to queue at 6 a.m. after hearing the news of discounts.

A customer came out of the shop and paid a 2450 yuan discount after carrying a Gucci wallet.

The customer said that the price of this promotion was almost the same as that of Hongkong.

A salesperson at Gucci outlets in Pudong, Shanghai, said the sales campaign will last until next month, but the timing is uncertain.

Peng comprehensive Gucci spokesman statement and several analysts' views, summed up the reasons are as follows:

Reason 1: the first quarter results released by Kering group of Gucci parent company in April this year showed that Gucci's first quarter performance was the worst in five years.

Kering group said it would adjust the price of some Gucci products one by one, depending on the specific circumstances of the case.

Cause two:

Is in pition.

As Gucci's demand in Asia has declined, CEO MarcoBizzarri has accelerated the repositioning of the brand.

At the beginning of this year, Bizzarri promoted Gucci chief accessory designer AlessandroMichele (below) as the new creative director, and the first fashion series will be sold in major stores in autumn and winter of 2015.

LucaSolca, an analyst at ExaneBNPParibas, said: "in order to turn the page of FridaGiannini (former creative director), Bizzarri is emptying its previous inventory.

Gucci needs new directions and some amendments. I think this is inevitable. "

Reason three: the Chinese government will reduce some of its daily consumption in June 1st to stimulate domestic economic growth.

Import duties, including skin care products, clothing, etc.

And so on, the average decrease is over 50%.

Gucci's sales promotion coincides with this initiative.

However, a spokesman for Gucci denied this statement.

He said: "this promotion is like Gucci's annual big promotion at the end of the season, which has nothing to do with the recent decision of China's Ministry of finance to reduce tariffs."

In addition, he refused to declare that the specific time period for this promotion in China and other countries only depends on the local government's policies and regulations.

Reason four: the euro has fallen by more than 9% against the RMB and the US dollar this year. Luxury groups including Chanel and Burberry have lowered their prices in China since March this year, in order to fight the impact of the weakening of the euro and narrow the price gap between China and Europe.

Nomura, an analyst, said: "exchange rate fluctuations cause unsustainable price gap between Europe and Asia and Asian countries."