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Topline. French conglomerate Kering—owner of Gucci, Yves Saint Laurent, Bottega Veneta and other luxury brands—reported on Tuesday a 10% drop in first-quarter sales, as its star label Gucci .

Visit a Gucci Outlet store - if you missed a collection and wanted that Gucci bag, purse and more, find your next piece. GUCCI Outlet Stores: Bags, Purses and Shoes Near Me 360-view Gucci’s recurring operating margin was at 33 per cent in 2023, falling back from 35 in the first half of the year, as ambitions to turn around the brand were complicated by a tougher environment .

Gucci’s 2023 revenue was €9.9 billion, down 6% as reported and down 2% on a comparable basis. Sales from the directly operated retail network, which account for 91% of revenue, dropped 2% on a comparable basis. Wholesale revenue was down 5% on a comparable basis. In the fourth quarter of 2023, Gucci’s revenue decreased 4% on a comparable .

Shop at the official site of Gucci. Discover the latest ready-to-wear, handbags, shoes and accessory collections, all inspired by the finesse of Italian design. Extended Returns Until 31/1 on Orders from 1/11-1/1 The luxury rebound boom continues. Kering on Tuesday reported a double-digit increase in sales across brands, including Gucci, which stumbled in the previous quarter. Gucci sales were up 24.6 per cent for the first quarter of 2021 over the year prior. Overall, Kering’s sales were up 26 per cent on a comparable basis for the same period. Over 50% of Gucci’s customers are 35 years old and under. Fun fact: Gucci is also an adjective! In a 1999 Harper’s Bazaar interview, musician Lenny Kravitz said his bedroom was ‘very Gucci’. Already picked up quickly by pop culture and slang, in the 90s, Gucci became a slick shorthand for describing something luxe and great.

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Kering SA warned that sales at Gucci have plunged about 20% in the first quarter due to a steeper-than-expected decline in the Asia-Pacific region, widening the gap between the French luxury .Sales at Gucci are expected to fall by 20% in the first quarter due to a slowdown in Asia, according to its Paris-based owner Kering. The warning contrasts with rivals LVMH and Hermès whose sales . Kering’s megabrand Gucci was hard hit by ongoing Covid-19 lockdowns in China, particularly in the main luxury hub of Shanghai, furthering concerns over the outlook for luxury’s biggest spenders. In earnings on Thursday, Kering said Gucci sales rose 13.4 per cent in the first quarter of 2022 compared to the same quarter last year, just below .

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Kering said net profits dropped 50 per cent in the first half of 2024, while sales fell 11 per cent to €9 billion, as star brand Gucci continues to slip. Second-quarter sales for Gucci dropped 19 per cent to €2 billion, after an 18 per cent decrease in the first quarter. Earlier this month, as part of its “elevation” strategy, Gucci opened its first Salon in Los Angeles, which are permanent appointment-only spaces in either standalone locations or within Gucci flagships dedicated to ultra-high-end offerings. Sales have been positive so far, Duplaix said. More will open in the coming year in key destinations .

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