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Prelude to the Best Sommelier of Canada Contest | SaltWirePARIS - French luxury group Kering's sales are likely to have slowed again in the third quarter as it seeks to reignite its star label Gucci under a new creative direction and the sector shows signs of easing demand for high-end fashion.
Rival LVMH's recent sales update showed demand for high-end fashion falling from post-pandemic peaks, resetting investor expectations for more normalized growth levels after months of forecast-busting growth. The choppy economic outlook complicates Kering's efforts to revive sales at Gucci, which accounted for over half of sales and nearly two-thirds of group profit last year.
The styles, which won't hit stores before the end of the year, marked a shift from the eccentric, gender fluid designs of his predecessor, Alessandro Michele.
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