Gucci welcomes new private salon

As it waits for its new creative director to arrive, Gucci is counting on new ultra-high-end "salons" with products valued up to $3 million to help close a growing gap with rival Louis Vuitton.
The newest private shops will be stocked by Gucci with some of its most jewellery, furnishings, and luxurious apparel.
Francois Henri Pinault, CEO of Kering, stated this week that "nothing will cost less than $40,000 and it will go up to as much as $3 million for luxury jewellery."
As the brand's sales declined 14% in the last three months of 2022, due to COVID-19 in China and decreased hunger for its clothes in the United States, particularly among lower-spending consumers, Gucci's concentration on its wealthiest clients is a major component of its growth strategy.
The second quarter will welcome Sabato De Sarno as the new creative director of Gucci. His debut fashion show will be held in Milan in September.