Although the opening of the first branch in the US of the Parisian department store at One Wall Street has been a success, the project has required considerable investment from its owners.
The exodus of top executives from the Italian luxury fashion house may have slowed, but it hasn't halted altogether. In late March, the Rome-based luxury fashion house dismissed its longstanding head of advertising, without appointing a replacement.
Having for many years made do with a simple executive assistant, the founder and CEO of LVMH recently recruited an experienced chief of staff, which is tantamount to a quiet revolution within the luxury goods giant.
Having been idling in the slow lane of late, Gucci is now banking on an F1 sponsorship deal to boost its image and sales. But it is entering a race in which its leading competitor already has a comfortable headstart.