The Russian division of Gucci recorded a net loss of 1,55 billion rubles in 2022. Gucci, spring-summer 2023
28.05.2023 4625

The Russian division of Gucci recorded a net loss of 1,55 billion rubles in 2022.

The net loss of the Russian division of the luxury brand Gucci Gucci Rus for 2022 amounted to 1,55 billion rubles, although a year earlier the company made a profit of 327 million. Revenue fell more than 5 times - from 5 billion rubles in 2021 to 955 million the results of 2022, TASS reports.

Gucci boutique in Moscow on the street. Petrovka (temporarily closed) Gucci boutique in Moscow on the street. Petrovka (temporarily closed)

The luxury brand Gucci, which is part of the French Kering Group, suspended sales in Russia in 2022, like other brands in the group’s portfolio (Yves Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni), but did not liquidate the legal entity Gucci Rus, on which recorded eight separate divisions.

At the end of 2022, the number of employees in these divisions located in Moscow and in the cities of the Moscow region was 129 people.

Since March 5, 2022, Gucci has suspended the work of stores and retail operations in Russia, but has retained jobs and leased facilities, follows from the reporting of its local legal entity. Also, the documentation says that the company does not expect to resume the activities of stores in the coming year.

The Gucci brand produces shoes, clothing, leather goods, watches, jewelry, perfumes and other goods. 

The net loss of the Russian division of the luxury brand Gucci Gucci Rus for 2022 amounted to 1,55 billion rubles, although a year earlier the company made a profit of 327 million. Revenue fell by more than 5 times ...
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