“Italy has felt the financial crisis through a slight decrease in sales as early as the end of 2008. This is a phase we must all overcome, without lowering the level of services. I cannot afford to let the team down, as they have been with me for a long time. Together we have reached the success we are enjoying today.  This is why I hope to weather this difficult period well, without laying off any employees,” Mengotti said.

The Gucci spring-summer 2009 collection will include only accessories and shoes worth €90,000, and the store will receive the full product range worth €300,000 as of the second half of the year. The store will display 300-500 products every season, the group’s Chairman added.

However, the group is not considering expansion for 2009. “The investment required for entering the market was significant. We cannot afford to expand annually or seasonally. The effort is not just financial, but logistical as well,” said the company official. Mengotti added that the company should draw conclusions from the first year since opening, establishing what needs to be improved, and then decide whether to maintain or expand the business.