Gucci acquires Taiwan distribution business

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Luxury goods maker Gucci Group announced today it had bought the minority stake it did not already own in Gucci Taiwan from its local partner Tasa Meng Corp

Gucci also announced the opening of a new three-floor 650sq m (6,994sq ft) flagship store in Taipei, its largest shop in Taiwan. "This year we are investing over Eur200m [$183m] for the opening of new stores for our brands all over the world, including 35 stores in Asia," Gucci ceo Domenico De Sole said in a statement.

De Sole also announced that Gucci Taiwan will operate as a subsidiary of Gucci Group under the supervision of Mini Pun, president of Gucci Asia Pacific.