Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.
+1 212 318 2000
Europe, Middle East, & Africa
+44 20 7330 7500
+65 6212 1000
Posted by: Rose Brady on October 16
How do you sell luxury in a recession? If you’re Gucci, you try to convince customers a handbag isn’t just an accessory but an investment. My colleague, Paris bureau chief Carol Matlack, explains Gucci’s strategy for the recession in a story in the Oct. 26, 2009 edition of BusinessWeek. This season, Gucci is giving top billing to a new purse called the New Jackie, based on a style carried by Jacqueline Kennedy Onassis. Price: $2,200 and up. Meanwhile, Gucci is downplaying its traditional GG bags. Thanks to the strategy, Gucci’s sales in the first half of 2009 were down 3.7%. That compares with a 15% decline for the industry, according to consultancy Bain & Co. Read more about Gucci’s strategy and let us know what you think.
How are industries and companies positioning themselves for recovery? What should troubled businesses be doing to survive? BusinessWeek writers explore what is becoming known as The Reset Economy. We’ll look at smart strategies for growth and industries undergoing transformation, from autos to entertainment.
Top executives answer questions from readers. Submit your questions and we'll ask them in a video interview. Check back regularly to watch.