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Is Gucci still the fashion it used to be? Have you ever heard someone gush, “I really want to buy Gucci”? Lately, that excitement has been harder to find. Over the past three years the brand has swapped designers twice and replaced its CEO four times — and it still hasn’t bounced back. That’s the reality Gucci is facing.
Here are the numbers. Last year Gucci posted sales of €5,992,000,000 (about 10.2 trillion KRW; roughly $6,888,582,960 USD), a 22% drop from the previous year. Operating profit plunged 40% to €960,000,000 (about 1.5 trillion KRW; roughly $1,041,564,780 USD). The operating margin fell to 16.0% — the first time it’s dipped below the 20% range since 2020.
Meanwhile, Lee Boo-jin, president of Hotel Shilla, served a Gucci moment today. At Hotel Shilla’s 53rd annual shareholders’ meeting on the 19th, she wore a Gucci technical stretch wool jacket from the 2026 spring/summer collection — a piece priced at 5,600,000 KRW (560만원; about $3,752 USD). She paired it with Gucci technical stretch wool pants priced at 1,720,000 KRW (172만원; about $1,152 USD).
Her blouse was a Valentino floral lace body, priced at 2,650,000 KRW (265만원; about $1,776 USD). Her bag was an Hermès 365PM vintage piece, in the 4,000,000 KRW range (around 400만원; about $2,680 USD). The items disclosed publicly already total about 14,000,000 KRW (1,400만원; roughly $9,380 USD).
Gucci is one of her go-to labels. At official events she often opts for Gucci, Alexander McQueen and Tom Ford, choosing the most understated, simple pieces — usually in black or white.
This marked her first time wearing Gucci to the shareholders’ meeting in three years. She also drew attention at the 2023 meeting for pairing a Gucci jacket with a gold-buckle belt — a 5.7 million KRW (570만원; about $3,819 USD) jacket matched with a skirt priced in the 2 million KRW (200만원; about $1,340 USD) range.
“Her image branding communicates ‘dignity’ and ‘trust,’” said Park Young-sil, CEO of Personal Image Branding Lab & PSPA. “She selects luxury houses like Gucci and Bulgari but avoids excessive flashiness, favoring restraint.” It’ll be fun to watch which brand she chooses next year.
Reporter Sujin Choi jinny0618@hankyung.com
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