Kering is one of the main engines of the CAC 40, the main index of the French stock market along with L'Oréal, LVMH and Hermès. In 2023, Gucci's turnover fell 6% compared to the previous year (2% in comparable terms), standing at 9,873 million euros.

And for the first quarter of 2024, the luxury group anticipated that sales of the Florentine house founded in 1921 will be 20% lower than last year. “The priority is to get Gucci back on track,” admitted Kering president François-Henri Pinault after the presentation of the annual results. The company, however, wanted to send a reassuring message: ‘The new collection has had a very favorable reception,’ he said. The coming months will be decisive to know if Kering managers have made the right move, he says, adding that the Chinese market does not yet know whether the Chinese will like Sabato de Sarno's new line.