Gucci and Bottega to open men-only stores in China

Gucci and Bottega Veneta (both subsidiaries of PPR SA; PP.Euronext), two Italian luxury goods firms, will open menswear-only stores in China, the Wall Street Journal reported. The move underscores the high proportion of luxury goods spending that male shoppers account for in the China market, a typical pattern in emerging markets. “The decision of buying for women is still made by men [in China],” commented Francois-Henri Pinault, owner of PPR SA, which controls both Gucci and Bottega Veneta. Fashion brands have been looking to the fast-growing China market to make up for stagnating sales in the US and Europe. A recent report by consulting firm Bain & Co. forecasts luxury goods sales in China to surge by 25% in 2011.