Back in February, Gucci’s parent company, Kering, announced a drop of 95% in net profits for 2013: €50 million (£41 million), down from €1.05 billion in 2012. In addition, Gucci reported its slowest quarterly sales growth in four years for the final three months of 2013. Like-for-like sales were up just 0.2 per cent in the fourth quarter of 2013. The label’s cosmetic line will launch in the fourth quarter of 2014. Coincidence?
An Abba lyric once name-checked the principality of Monaco: “So I must leave, I’ll have to go, To Las Vegas or Monaco.” The song was called Money, Money, Money, and Misses Fältskog and Lyngstad intended to net a fortune on the roulette tables. Louis Vuitton came to Monaco this season, the implication being they also wanted to make a bomb. That implication came from the fact that Vuitton were showing Cruise.
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