Europe’s luxury brands have shrugged off the pandemic and inflation, but fickle tastes in fashion still have the power to bring them down.
Shares of Gucci-owner Kering fell 5% in European morning trade on Friday in reaction to quarterly results released the night before. Sales rose 21% year-over-year in the three months to March, but the Gucci brand, Kering’s top brand for both sales and profits, appeared to lag among Chinese shoppers based on the sales decline in the Labels up 6% in the Asia-Pacific region.
https://www.wsj.com/articles/is-gucci-too-trendy-11650627918?mod=pls_whats_news_us_business_f Is Gucci too trendy? -WSJ