Kering Warns of Sharp Decline in Gucci Sales for the First Quarter
Wednesday, 20 March 2024, 07:58
French luxury group Kering has issued a rare profit warning, projecting a substantial 20% decrease in Gucci sales for the first quarter.
The decline in sales is primarily driven by continuing challenges in the Asian market, exerting pressure on the renowned fashion brand's revenue.
Key Points:- Impact on Gucci Sales: Anticipated 20% plunge in sales for the luxury brand.
- Asian Market Struggles: Persistent decline in Asia sales contributing to the revenue downturn.
Conclusion: Kering's profit warning underscores the significant challenges faced by Gucci in the luxury market, particularly in the context of ongoing issues in the Asian region.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.