US EditionSales at Kering-Owned Luxury Brand Gucci Drop 25%
GLOBAL MARKETS, JUL 29 – Gucci sales fell 25% to 1.46 billion euros, impacting Kering's overall luxury brand performance amid geopolitical uncertainty and consumer spending concerns, analysts said.
- Kering’s results showed Gucci sales plunged 25% amid global uncertainty, with weaker sales across all markets including Japan and Asia Pacific.
- Facing future tariff threats, Yanmei Tang noted that China and the United States are under strain and industry faces proposed 15% U.S. tariffs and Chinese consumer concerns.
- Sales were weaker across all markets, led by Japan and the Asia Pacific, as Saint Laurent saw sales down by 10% in the quarter.
- Kering's share price declined, and François-Henri Pinault stated that despite the current results, efforts over the past two years lay a healthy foundation for future growth, last week.
- Focusing on brand revitalization, Yanmei Tang said `Product desirability is now a bigger problem for Kering than any tariff threat`.
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The luxury group Kering, faced with the persistent challenges of its flagship brand Gucci, saw its net profit fall by 46% in the first half of the year The luxury group Kering, still hit by the
·France
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Kering's Quarterly Sales Weaker Than Expected, Gucci Down 25%
·New York, United States
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Hermès closed the season of intermediate results on a very positive note that contrasts with some competitors. What to highlight the importance of the business model in an activity far from being cut off from the same blockHermès and Richemont who laugh, Kering and Swatch Group who are crying. We are tempted to look at the luxury sector with magnifying glasses after the results season, as the gaps are large. Kering published Tuesday post-bourse …
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Total News Sources15
Leaning Left2Leaning Right0Center3Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
L 40%
C 60%
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