Teens are obsessed with Gucci - and it's giving the brand a big boost
- Same-store sales at Gucci soared during the first quarter of 2018.
- The brand is capitalizing on a resurgence of 90's styles.
- Gucci is now a top teen brand.
Gucci is back in vogue.
On Tuesday, Gucci's parent company Kering SA reported a 48.7% jump in same-store sales during the first quarter of 2018. This followed a 43% and 49% increase in the two quarters before.
The luxury brand has exploded in popularity in recent months, especially amongst millennial and teen shoppers.
In the first three quarters of 2017, around 55% of its sales were made to consumers under 35, according to a report done by consultancy firm Bain & Company in October. This month, it was also featured prominently in a survey on teen spending done by Piper Jaffray. The company surveyed 6,000 teens across the US and found that they ranked Gucci as the 10th most popular apparel brand overall. In 2017, Gucci ranked in 15th place.
Gucci is benefiting from a resurgence in 90's styles: after a decade in the darkness, the logo is back in fashion and younger consumers are flocking to logo-heavy brands such as Gucci, Clavin Klein, Champion and Tommy Hilfiger to pick up branded T-shirts and jumpers.
Some of these products are exclusive to its online store.
During the first quarter, Gucci's online sales were up by triple digits versus the previous year, another indication that its tech-savvy younger shoppers are helping to boost sales.
Since 2015, the brand has fallen under the creative direction of Alessandro Michele, who has refreshed its look by bringing together an eclectic mix of colors and patterns in each design. This is a far cry from the former classic styles of the previous designer, Frida Giannini.
Michele recently turned "heads" at Milan Fashion Week after he sent models down the runway carrying severed prosthetic heads.