'When price is forgotten': Gucci NZ bucks retail trends, posts 17% profit gain

Gucci NZ made a total comprehensive income of $1.53 million in the year to Dec 31, 2023. (Image: NZME)

Tue, 08 Oct 2024

Gucci's New Zealand operation bucked retail trends and made a 16.7% profit gain in 2023.Retailers at the opposite end of the luxury spectrum have been struggling.In annual earnings lodged with the Companies Office on Monday, Gucci NZ said it made a net profit of $1.53 million, up from $1.32m in the year to the end of Dec 31, 2022. Revenue grew 18.5% to $41m. However, the cost of sales grew largely in tandem, leading to a marginal 1.7% gain in gross profit to $17.6m. The luxury goods company has two stores in Auckland. It is a sub...

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