Kering

**Gucci Panic: Kering SA Shares Plummet 15% as Sales Drop 20% in First Quarter, Hinting at China Slowdown**

by

Paris, France – Luxury giant Kering SA experienced a significant plunge in shares following a warning that sales at its flagship brand, Gucci, dropped by approximately 20% in the first quarter. This decline resulted in a drastic intraday decrease in stock value, the most substantial since 1992, wiping out over €7 billion euros ($7.6 billion) from Kering’s market capitalization. Gucci’s sales downturn, which is more reliant on China compared to other luxury brands, was primarily …

Read more

**Gucci Crisis: Luxury Giant Kering Sees 20% Drop in Gucci Sales – What’s Behind the Decline?**

by

Hong Kong, China – Luxury retail giant Kering faced a significant downturn in its stock market value, with shares plunging 14% in response to a grim profit warning. The company’s iconic brand, Gucci, is expected to see a 20% drop in sales for the first quarter of the year, primarily driven by decreasing transactions in Asia. Unlike its industry counterparts LVMH and Hermes, which have managed to weather economic challenges, Kering’s overall group revenues are …

Read more