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Article: Keynote: Domenico de Sole. (Gucci President)(WWD CEO Summits)(Brief Article)
- Article from:
- WWD
- Article date:
- June 9, 1997
CopyrightCOPYRIGHT 1997 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Great Gucci Turnaround. Everybody thinks they've heard the story by now, but the message from Gucci's president and chief executive officer, Domenico De Sole, is that the story is far from over.
In his speech, De Sole said Gucci will buy other luxury goods companies "fur- ther down the road." Gucci is "generating a lot of cash," he said, "but we have to be careful about what we do." Long-term growth can be found in acquisitions rather than more Gucci spinoffs. "We don't want second lines or blue jeans. We just got our image back. But there's a limit to how much a luxury brand can grow."
If Gucci's 1996 results are any indication, however, the company ...