Gift Giving 2016: The Gucci Garden
Handbags designed by Italy?s Gucci edged out French atelier Chanel as a must-have among affluent Chinese women, according to a survey conducted by RBC Capital Markets.
Kering-owned Gucci has seen a resurgence of interest among fashionable affluents in part because of the brand?s aesthetic overhaul under the direction of Alessandro Michele. The revitalization of the brand?s codes via Mr. Michele?s use of motifs and its uptick in digital marketing has lead to Gucci being selected as the top brand choice for Chinese women in the market to buy high-end handbags or shoes in the next year.
“Gucci was the hottest brand in the sector in 2016 and our survey points to strong purchase intent for Gucci,” said Brian Tunick, analyst at RBC Capital Markets. “That said, we believe that consensus expectations for Q4/2017 already reflect further Gucci outperformance at times when the shape/timing of Bottega Veneta’s recovery remains uncertain for Kering. “Improving purchase intent for handbags is encouraging for Burberry, which remains among the top 10 brands in fashion apparel too,” he said.
“On- going preference shift towards less widely available brands logically plays into Hermès’ strengths. Louis Vuitton’s purchase intent remains consistently high and bodes well for further retail LFL outperformance in 2017.”
RBC Capital Markets surveyed 411 affluent Chinese women in November. The survey poo...