Gucci CEO sees satisfactory Q1

today Apr 1, 2009
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MILAN, April 1 (Reuters) - Fashion house Gucci has had a satisfactory trend in the first quarter, Chairman and Chief Executive Patrizio Di Marco said in an interview in Italian financial daily Il Sole 24 Ore published on Wednesday April 1.

Gucci store, Sloane Street in London

Di Marco gave no detailed figures for the first quarter, though he said that there was a structural change in consumer habits in the luxury sector in the United States where there is a reluctance to be ostentatious.

"If I analyse the luxury market conditions and of the competition, I am satisfied by the trend in the first quarter," he said.

Di Marco said he had never seen a crisis like this, which "hits all brands, all distribution channels, all countries and all cities".

Parent company Gucci Group is owned by France's PPR SA (PRTP.PA). (Writing by Nigel Tutt; Editing by David Holmes)

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