Gucci sales in Ireland drop 59% during pandemic

Ireland’s passion for fashion appeared to take a hit during the Covid-19 pandemic, with the Irish division of designer label Gucci announcing a 59% drop in sales to just over 2.3million euros.

Last week, Gucci Ireland, the Irish subsidiary of one of the world’s leading luxury brands, released its results for the fiscal year ended February 28, 2021.

Despite lower sales, pre-tax profit fell only slightly to just over €205,000 from nearly €265,500 the previous year.

The average number of people employed by Gucci Ireland during the year was 12, four fewer than in 2020.

Gucci Ireland said in the results that due to government action in 2021 regarding restrictions on international travelers visiting Ireland, it expected its first-half sales to be “significantly impacted”. He added that he did not believe the pandemic would jeopardize the development of the luxury industry or its long-term growth potential.

Boundless HQ plans to raise €15m from VC

Ireland’s global employment services platform Boundless HQ, which provides thousands of remote staff to corporate clients around the world, plans to raise “approximately €15 million” in a funding round in venture capital later this year.
The company is currently signing a new fundraising agreement with existing investors that will bring its total funds raised to date to €5 million, founder Dee Coakley revealed to Conall O’Móráin on the ThatGreatBusinessShow.com podcast. .
The company would begin the venture capital round by the summer, Coakley said.

Hanover sign Hoare

Hanover Communications pulled off a decent signing by announcing the appointment of Keith Hoare as Associate Director of the company’s Dublin office.
Hoare joins Hanover from former minister Lucinda Creighton’s Vulcan Consulting, a public affairs consultancy. He served as an account manager for the company’s multinational clients in various industries. He also worked with MEP Mairead McGuinness in the European Parliament.

Sallie R. Loera