Apr 14, 2003/ FW/ -- The Gucci luxury group has announced the acquisition of a building located in the Ginza neighborhood of Tokyo.

According to Domenico de Sole, "Japan is the most important luxury market, and it's a wonderful opportunity to increase the presence of Gucci, which will benefit both strategically and financially from this important initiative."

The opening of a new boutique is planned for spring 2005. At present, Gucci maintains 7 independent boutiques in Japan as well as 37 point of sales located within large department stores.

Sixty-five additional boutiques, representing various labels owned by the luxury conglomerate, are also currently operating in the country.