'Nothing will cost less than $54,000': Gucci banks on private 'salons' for ultra-rich to revive sales

PARIS — Gucci is banking on new ultra-high-end 'salons' offering merchandise priced at up to US$3 million (S$4 million) to help narrow a widening gap with rival Louis Vuitton as it waits for its new creative director to arrive. Chasing after the ultra-rich whose fortunes are largely immune to economic turbulence, Gucci will stock the new private boutiques with some...

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