BRIAN BLAKE APPOINTED PRESIDENT OF BOUCHERON AND GUCCI GROUP WATCHES – Release

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Amsterdam, The Netherlands, February 07, 2003: Gucci Group N.V. (Euronext Amsterdam: GCCI.AS; NYSE: GUC) today announces that Brian Blake, Executive Vice President, Gucci Group, has been appointed President and Chief Executive Officer of Boucheron in Paris and President of Gucci Group Watches in NeuchÃtel. Blake reports to Domenico De Sole, Chief Executive Officer of Gucci Group.

Brian Blake has held various positions with Gucci since 1987, including those of President of Gucci America and President and Chief Executive Officer of the Gucci Division.

Massimo Macchi, who joined Gucci Group in January, 2001 is leaving his current executive positions at Boucheron and Gucci Group Watches for personal reasons but will continue as a consultant to the group.

Commenting on the appointment, Domenico De Sole said: “I am delighted that Brian has agreed to take on this new exciting role. Brian was a major contributor of the explosive growth of Gucci over the last decade. He has demonstrated razor-sharp merchandising skills and a tremendous understanding of the luxury goods industry throughout his career at Gucci Group. I believe Boucheron and Gucci Group Watches will greatly benefit from his leadership.

I would like to take this opportunity to thank Massimo for his contribution to the development of Boucheron and the creation of GGW and wish him the best for his future endeavours.”

Gucci Group N.V. is one of the world’s leading multi-brand luxury goods companies. Through the Gucci, Yves Saint Laurent, Sergio Rossi, Boucheron, Roger & Gallet, Bottega Veneta, BÃdat & Co., Alexander McQueen, Stella McCartney and Balenciaga brands, the Group designs, produces and distributes high-quality personal luxury goods, including ready-to-wear, handbags, luggage, small leather goods, shoes, timepieces, jewelry, ties and scarves, eyewear, perfume, cosmetics and skincare products. The Group directly operates stores in major markets throughout the world and wholesales products through franchise stores, duty-free boutiques and leading department and specialty stores. The shares of Gucci Group N.V. are listed on the New York Stock Exchange and on the Euronext Amsterdam Stock Exchange.

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Daniel Hirsch
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