Nothing Below USD 40,000 - Gucci's New Ultra-Expensive Private Boutiques Target The Super Elite

Gucci's Ultra-Expensive Private Boutiques For The Super Rich

As part of its expansion strategy after a 14 percent drop in sales during the last three months of 2022 due to Covid-19 restrictions in China and a decline in demand for its clothing in the United States, Gucci plans to open new ultra-luxury "salons" selling goods costing up to USD 3 million.

Gucci will outfit its new private stores with some of its most expensive apparel, furnishings, and jewellery in pursuit of the ultra-wealthy, whose wealth is generally impervious to economic volatility.

Gucci seeks to deliver a more personal encounter for their affluent clients with this unique strategy.

According to the CEO of Kering, Francois-Henri Pinault, nothing will cost less than USD 40,000, and the price of fine jewellery will reach USD 3 million. Some of these exclusive "salons" will be housed inside the brand's already-established shops, while others, such as the one on Melrose Avenue, will be newly-opened.

Reposition

In addition to unveiling new shops for its high-end clientele, Gucci hopes to reposition itself with the collections of its new creative director Sabato De Sarno, which are expected to hit stores by the end of 2024. The company is also intending to promote an exhibit of its archives on a globe tour, with the first stop in Shanghai, as well as enhancing its catwalk presence with a presentation in Milan in February 2023 and a cruise collection in Seoul in May, 2023.