The Gucci Group, which consists of some of my favourite fashion houses, from Stella McCartney and Bottega Veneta to Yves Saint Laurent and Balenciaga, is not afraid to admit that it has received some knocks over the last year as a result of the economic downturn. Haven’t we all? But that doesn’t mean that it can’t start preparing for when the world’s financial situation starts to pick up.
Gucci Group chief executive officer Robert Polet told Reuters this week that while the company has no intention of stocking up inventories to astronomical proportions, it does anticipate growth over the next 12 months. With so many fabulous designer clothing brands under the company umbrella, that makes perfect sense to me.
"I see the world as being prepared for everything. You do not want to miss an upturn when the upturn comes, but you do not want to build up inventories either," he explained.
If the group does have any intentions of focusing more heavily on one brand than another, then my money is on Balenciaga since Polet himself claimed that it has been its fastest growing label. "It is delivering on all the things it set out to do two years ago," he added.
That might be a lot of pressure for the brand’s head honcho designer Nicolas Guesquiere to handle, but I’m sure he’s up to the challenge – particularly since Balenciaga’s massive celebrity following can be attributed to his talents since he took to the helm of the label back in 1997.
Which Gucci Group brand is your favourite?
My favourite Gucci brand is FC:Kids. Matthew Nicholson recently was quoted saying the London fashion scene is very strong, with the impact from the fashion college.