In this time of economic downfall, many companies have no choice but to file for bankruptcy. However, there are some companies that are actually benefiting or doing exceptionally well during this period of despair. Companies such as Walmart, Costco, and other discount stores have been raking in large sums of money. But guess who else is also doing well in 2008? The company starts with the letter “G” and rhymes with the word “hoochie.”
If you haven’t guessed it by now, I’m talking about the designer handbag company, “Gucci.” Gucci corporate has just released their quarterly end sales report which demonstrated to the public that their sales were much higher than their expectancy. On the same note, Gucci’s gross sales also exceeded the gross sales of their competitor, Louis Vuitton. Gucci’s success this quarter is directly related to the increasing sales in the Eastern markets. Though, Gucci reported that they had a significant decrease in sales in the West, they had an extraordinary jump in sales in the Asian countries.
So, were you one of the contributors to Gucci’s success this quarter?