Gucci-owner Kering has seen a stark decline of demand for its luxurious and style items in the US, its chief govt François-Henri Pinault advised French senators at a parliamentary listening to on Tuesday.
“The drop in consumption, which has been occurring for a number of weeks now, is kind of sturdy,” Pinault stated.
Kering final month reported weak first-quarter gross sales, dragged down by a 25 % drop at Gucci.
By Tassilo Hummel; Edited by GV De Clercq
Study extra:
Kering’s Woes Deepen as Gucci Gross sales Tumble 25%
Group revenues fell 14 % within the first quarter as Saint Laurent and Balenciaga additionally suffered from the downturn in luxurious demand.
