Gucci's quarterly sales rise despite Asia turmoil

Article Abstract:

Gucci Group NV of Florence, Italy, has reported a 5.9% increase in sales to $236.9 million in the second quarter ended July31, 1998, from the year earlier period despite the Asian financial crisis. Domenico De Sole, CEO of Gucci, said that to counter the slump in the region, the company aggressively pursued its customer base in Asia. Gucci opened nine stores, five in Japan, three in Hong Kong and one in China, during the first half of 1998. The luxury-goods manufacturer also bought out 20 Asian franchises, 10 in Taiwan, nine in Korea and one in Japan.

Comment:

Reports a 5.9% increase in sales to $236.9 mil in the 2nd quarter ended 7/31/98 from the same period in 1997

Netherlands, Sales, profits & dividends, Apparel & Shoe Stores, Clothing and Clothing Accessories Stores, Gucci Group N.V.

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Orangina rejects PepsiCo's new offer

Article Abstract:

Coca-Cola Co.'s proposed $830-million acquisition of Orangina, a French soft-drink firm, from Pernod-Ricard S.A. is opposed by PepsiCo Inc. PepsiCo sought to counter Coca-Cola's bid for Orangina, announcing that it will provide a renewable and exclusive ten-year marketing agreement to Orangina if the deal is blocked by the French government. Jacques Pfister, the chairman of Orangina, however denied that PepsiCo sweetened its distribution and manufacturing deal offer to Orangina.

Comment:

Offers Orangina a renewable & exclusive 10-yr mktg deal if its proposed purchase by Coca-Cola is blocked by French govt

United States, Asset sales & divestitures, Acquisitions & mergers, Foreign operations, Canned & Bottled Soft Drinks, Soft Drink Manufacturing, France, Strategic alliances, Soft drinks, Coca-Cola Co. (Atlanta, Georgia), PepsiCo Inc., Orangina, Pernod-Ricard S.A.

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