|
As the number of millionaires in Asia surges Gucci Group will enter indian market next year. Chief executive officer of gucci Robert Polet said "This is a country which is at the beginning of its growth in luxury goods. Gucci known for its logo "GG" and bamboo handled hand bags will open 10 stores in China and expand in Russia. India ranks the worlds fastest growing economy after china and the fourth-largest in Asia. The luxury group is still trying to turn around Yves Saint Laurent six years after buying the French label one of nine in its portfolio. Poland did not comment on when the brand will become Profitable but said that it will take time. Polet said that the Guccis Asia-Pacific sales are growing 30% a year. The Gucci groups total sales rose 11% to1.35 billion euros in the first half and operating profit rose 76% to 107.4 million euros. Personal rising incomes and and economic growth is are giving a boost to the and demand in Asia.According to a report by Capgemini and Merril Lynch & Co the number of Asian Millionaires increased 8.2% last year to 2.3 million as Chinas economy expanded 9.5%.
|
|
|
|
|
| Posted : 9/29/2005 |
|
| Browse through Product Directory of JimTrade.com which offers an exhaustive data on Products of Services where as Suppliers Directory of JimTrade.com provides a detailed information on Suppliers of Services |
|
|
|
