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Italian fashion house Gucci said Thursday it aims to reach 10 billion euros ($11.7 billion) in annual sales and replace LVMH's Louis Vuitton as the world's biggest luxury label. The Gucci brand is reaping the benefits of a radical makeover under designer Alessandro Michele, with a flamboyant style that has won over fashion fans and helped sales surge.Last year Gucci, with 6.2 billion euros in sales, came in behind Vuitton – estimated by analysts to bring in over 8 billion euros – as the luxury industry's No. 2, in close contention with a few others like Hermes.Analysts at HSBC said Gucci's sales targets were achievable.Gucci also targets an operating margin of over 40 percent, compared to around 34 percent in 2017 .
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