Nonetheless, Duplaix pointed to a steady increase in average selling prices, as Michele has tweaked his geek chic aesthetic to introduce more timeless styles and emphasize higher-end products. The brand now presents just two seasonless coed collections a year, the next of which will be unveiled in Los Angeles on Nov. Gucci is also paying the price for its decision to accelerate a strategy that involves cutting back its wholesale network, and switching investment from a handful of high-profile fashion shows to a speedier pace of digital storytelling and events. вЂњThe pace of novelty injection tied to this collection was also milder this quarter,вЂќ said Duplaix, citing the knock-on effect of product development delays in Italy at the height of the pandemic last year. The Asia-Pacific region, which accounts for 41 percent of the brandвЂ™s sales, was down 3 percent due to new COVID-19 restrictions that led to the cancellation of retail events and activations planned for the final chapter of the previous Ouverture collection. GucciвЂ™s performance was patchy in the third quarter, with retail sales in North America up 24 percent, despite some volatility, and Western Europe gaining 7 percent.

She predicted the release of Ridley ScottвЂ™s eagerly awaited вЂњHouse of GucciвЂќ film in November, though in no way affiliated with the house, would also have a вЂњhalo effectвЂќ on the brand. вЂњWe are confident for Q4 at Gucci that the brand can reaccelerate compared to Q3 that was a transition quarter and probably not a good proxy to assess the brand trajectory,вЂќ Roblet said. HermГЁs International is scheduled to report quarterly results on Thursday. Figures for the second quarter were inflated because of an exceptionally weak comparison basis last year.Д«y comparison, sector leader LVMH MoГ«t Hennessy Louis Vuitton last week reported a 24 percent year-on-year increase in organic sales at its key fashion and leather goods division, powered by Louis Vuitton and Dior. The brandвЂ™s organic sales rose 3.8 percent year-on-year, following a jump of 86.1 percent in the prior three months, missing a consensus of analyst estimates, which had called for a 9.1 percent rise in like-for-like sales. Kering is hoping the buzz around Aria will be a shot in the arm for Gucci after its disappointing performance in the three months to Sept. She confirmed that the products bearing both the Gucci and Balenciaga logos would be available from November. вЂњAria is receiving a very good response of the market, whatever the region, and in China, we see a rebound that I will not quantify,вЂќ Jean-Marc Duplaix, chief financial officer of Kering, said on a conference call.Д¬laire Roblet, director of financial communications and market intelligence, said Gucci had implemented a price increase in the low single digits, on average, with the new collection. The first Aria drops began landing in stores in late September and have gained strong traction with consumers, after a quarter relatively lacking in novelties, except for the relaunch of the Diana handbag, Kering executives said after the company reported third-quarter results on Tuesday. Inside the Temple of Parisian Lifestyle: Pictures of La Samaritaine PJ Tucker Gets Ready for the Met Ball in Gucci Front Row at Saint Laurent RTW Spring 2022

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