Gucci holds the luxury spending downturn mainly responsible for its poor performance but the Italian fashion brand may also have itself to blame, suggesting it could be time to change strategy and hire fresh talent.
The Savigny Luxury Index turned around in mid October as confidence in the US economy returned and the US Federal Reserve ended quantitative easing.
Kering SA reported third-quarter revenue that met analysts’ estimates as growth in the sports and lifestyle unit offset the effects of weaker Chinese spending on sales of Gucci handbags.
As the art world congregates in London for the Frieze art fair, fashion businesses stand to profit.
With a few notable exceptions, luxury brands remain slow in building digital capabilities, revealed a report released by Exane BNP Paribas.
In the age of e-commerce, physical flagships are still critical to engaging male luxury consumers, though market leaders are integrating their online and offline presence to create new digitally enhanced stores.
The Savigny Luxury Index (“SLI”) leaped by 3.5 percent last month, as the feel-good factor returned to the luxury sector, underpinned by strong results announcements and positive market reaction to repositioning strategies.
MILAN, Italy — Italian fashion and leather brand Gucci will take direct control of its shops in Moscow and open two new points of sale in the Russian capital, the company said on Monday.
PARIS, France — Gucci owner Kering SA will consider acquiring sports and lifestyle brands in three years, as it assesses the performance of its Puma brand, Chief Executive Officer Francois-Henri Pinault said.
KARIBA, Zimbabwe — Crocodiles are some of the most feared predators in Africa, ruthless reptiles renowned for tearing their prey to pieces before swallowing hunks of meat raw.