The BoF Podcast: Marco Bizzarri on China's Role in Gucci's $10 Billion Plan
Marco Bizzarri sits down with Imran Amed at the BoF China Summit to uncover how much of Gucci's success hinges on the Chinese consumer and how he plans to leverage the market to achieve his lofty revenue target.
LONDON, United Kingdom — Marco Bizzarri is nothing if not daring. Gucci's president and chief executive has overseen blockbuster growth since he took the helm of the Italian megabrand in 2015. The Kering veteran is what some call “a CEO’s CEO”, meaning he keeps luxury industry leaders second-guessing as they watch his every move for signs of what lies ahead in a rapidly changing marketplace.
Gucci has seen its annual turnover grow more than 40 percent year-on-year, reaching €6.2 billion in 2017, and Bizzarri attributes a key driver of this success to the Chinese market. Gucci’s gains both in China and around the world were buoyed by the ability of Bizzarri and creative director Alessandro Michele to transform the brand image and reinvigorate it with a sense of purpose.
In our latest episode of Inside Fashion, Bizzarri shares some candid thoughts on daigou, counterfeiting and the very real problem of “control freak Western managers” who impose unrealistic strategies on the Chinese market. China's economy may be growing at its slowest pace since the financial crisis, but Bizzarri remains bullish.