Gucci Says World Luxury Demand Stable After Post-Lehman Plunge
JUL 31 2009
July 31 (Bloomberg) -- Gucci’s billionaire owner, Francois- Henri Pinault, said the world’s luxury-goods market has stopped worsening, while sustained demand for designer Frida Giannini’s handbags in China helped the label beat analysts’ estimates.
Shares of Pinault’s PPR SA, Gucci’s French parent company, soared as much as 10 percent to the highest since Lehman Brothers Holdings Inc. filed for bankruptcy on Sept. 15, 2008. That failure spooked buyers of expensive handbags and watches, sending…
