In a global luxury market that has been less flourishing since mid-2023, the major projects underway to relaunch Gucci will undoubtedly still take time to have their effect.
This Thursday morning, Kering announced that the turnover of its flagship brand Gucci fell by 2% last year on a comparable basis, to 9.87 billion euros.
A poor performance that is all the more unfortunate as it follows an already lackluster 2022 vintage, where Gucci sales virtually stagnated (+1% over one year).
The Florentine leather goods manufacturer's profits fell by 13% last year, to 3.26 billion.
Enough to weigh down the performance of Kering, for which Gucci accounts for half of the sales and two-thirds of the profits.
The total turnover of the group led by François-Henri Pinault fell by 2% last year, to 19.56 billion euros, and its operating profit fell by 15%, to 4.74 billion.
The group has not really been able to count on growth drivers: Saint Laurent, Bottega Veneta and Balenciaga
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