Gucci Forecasts 20% Sales Drop Amid Asia Slowdown

Luxury fashion house Gucci, owned by Paris-based conglomerate Kering, is bracing for a significant decline in sales, projected at 20% for the first quarter, primarily attributed to a slowdown in Asia. This announcement stands in stark contrast to the resilience demonstrated by competitors such as LVMH and Hermès in maintaining sales growth amidst challenging market conditions. The luxury retail sector has witnessed robust growth over the past decade; however, recent years have presented greater challenges, with Gucci ...

Blog Topics