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Millennials in $1,400 Gucci Shades Lead Luxury-Goods Revival

  • Kering brand designer’s ‘Midas touch’ lifts sales, shares
  • Bain sees millennials making up 85 percent of luxury growth
Gucci's 2017 Women's Spring/Summer collection in Milan on Sept. 21, 2016.

Gucci's 2017 Women's Spring/Summer collection in Milan on Sept. 21, 2016.

Photographer: Giuseppe Cacace/AFP/Getty Images
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Gucci’s $2,600 dragon-embroidered handbags and $1,400 crystal-studded pink sunglasses are leading the luxury industry’s revival as young shoppers get a taste for the high life.

Shares in Paris-based parent Kering SA rose to a record after Gucci reported third-quarter sales that jumped 49 percent on a comparable basis. The performance demonstrated designer Alessandro Michele’s “Midas touch,” Jefferies analyst Flavio Cereda said in a note.