Gucci rus

Performance indicators

2023: Loss - 1.7 billion rubles

The Russian division of Gucci received a net loss of 1.75 billion rubles at the end of 2023 against 1.55 billion rubles of cash losses a year earlier. In 2021, the company recorded a profit of 327 million rubles. Such data on RAS LLC "Gucci Rus" published in early April 2024.

As they write Sheets"" with reference to the financial statements of the Russian legal entity Gucci, its revenue in 2023 reached 1.02 billion rubles, having increased compared to the previous year (955 million rubles), but having decreased fivefold compared to 2021 (5 billion rubles).

Unsplash

Although Gucci suspended retail sales in Russia in 2022, the company continued to trade in the Russian Federation outside its own retail. In 2023, the company continued to import goods strictly within the framework of sanctions legislation for sale through multi-brand retail and in duty free zones of airports. The luxury brand did not liquidate the Russian subsidiary, but significantly reduced the number of personnel in it - from 129 people in 2022 to 16 employees in 2023. By the beginning of 2023, the Russian office of Gucci had eight separate divisions - six within Moscow and two in the Moscow region (the cities of Krasnogorsk and Dolgoprudny).

As informed sources told the publication, Gucci Rus LLC with some landlords, the company could partially pay off the lease, giving them the waste. The fact that Gucci realized its stock is confirmed by retail real estate consultant Anna Savenko.

According to Marina Malakhatko, senior director of CORE.XP, the effluent could reduce the loss of the brand, but did not compensate for the cost of renting space. Gucci terminated those rental contacts from which it was possible to leave, but, for example, cannot break the contract for the flagship store on Petrovka, she said in a conversation with the newspaper.^[1]

Notes