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Gucci's parent company Kering posted its quarterly sales results today, and Gucci is one of the few bright spots in the company's earnings report. Net profits fell 5.4% overall at Kering, according to Reuters, but sales were up 4.6% at Gucci. This was surprising to analysts who had predicted a soft decline as the brand is still finding its footing under new creative direction. It's the first time Gucci has reported positive sales numbers in the past two years.
Alessandro Michele was hired to remake Gucci after its creative director and CEO were both ousted at the end of last year. Michele created the men's show within a week of going down the runway, and produced an entire women's collection weeks later. Under Michele's direction, the brand has dropped its sexy vibes for a more frumpy, '70's look. Although it's too early to tell how much of the brand's uptick in sales comes from the new product, which won't fully hit stores until the next quarter, it's evident that things are looking up for the luxury brand.