Wednesday, 11 August 2010
Brazil is high priority market, says Gucci Group
PPR, the luxury goods group whose brands include Gucci, Yves Saint Laurent and Fnac, will ramp up its presence in Brazil over the coming years, as the country becomes a “high priority” for the group.
PPR said Brazil represents “wonderful potential” for its brands and the country ranks among one of the top priority markets for the luxury group. As a result, PPR’s expansion plans in the country are “aggressive”.
Gucci already owns two directly operated stores in Brazil (including the one pictured in the premium Iguatemi shopping mall in São Paulo) and plans are afoot to open more in the short term. PPR also intends to enter the market with its other brands Yves Saint Laurent, Bottega Veneta and Balenciaga. Emerging countries as a whole represent 35.5% of the Gucci Group sales (which includes YSL, Bottega Veneta and Balenciaga) at the end of the first semester of 2010.
Another of PRR’s brands – Puma – plans to make the most of the Football World Cup in 2014 and the Olympics in 2016 in Rio by doubling its presence in Brazil.
Meanwhile, Fnac will open its 10th store in Brazil in Belo Horizonte, with plans to establish between 35 and 50 stores in the country over time. Brazil is Fnac’s 4th biggest market in terms of revenue and the country where Fnac is seeing its strongest growth in sales.