While Gucci’s sales are still falling, green shoots are starting to emerge as a new executive and creative team start to manage the brand for long-term growth.
Tag Archives: Kering
Study In Contrasts: Kering And Gucci Go Down And LVMH Is Up, Up, Up
The French luxury conglomerate Kering, number two in the global luxury market, just issued a rare warning that first-quarter revenues are expected to decline 10% from last year’s $5.5 billion (€5.1 billion) and projects its flagship brand Gucci to be off nearly 20%, down from $2.8 billion (€2.6 billion). Kering cites particular weakness in the […]
Kering’s Plan To Restore Gucci To Former Glory: Will It Work?
Kering, owner of Gucci, Yves Saint Laurent, Bottega Veneta, Balenciaga, and Alexander McQueen brands and the world’s second-largest luxury conglomerate after LVMH, reported very depressing results for the third quarter of 2023. With a 13% reported decline overall and a 9% comparable shortfall, revenues for the group dropped from $5.4 billion last year to $4.7 […]
Aspirational Consumers Pull Back, Driving Down Luxury Leaders’ U.S. Sales
The leading global luxury brands showed topline gains for the first half of the year, despite a drop in sales in the U.S., where aspirational consumers are stretched thin and have cut back on indulgent purchases. In most recent reporting, all but Kering showed outstanding topline gains – LVMH was up 15% to $46.5 billion […]
It’s Disruption Versus Tradition As Louis Vuitton And Gucci Choose New Creative Directors
The fashion world was shaken when Louis Vuitton announced the appointment of pop icon Pharrell Williams as creative director of its menswear division. He will succeed the late Virgil Abloh, who passed away in November 2021. In many ways, Williams is a perfect choice to step into Abloh’s shoes, both being Black Americans steeped in […]
