default-output-block.skip-main
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

or
Sign up to:
  • Read selected articles
  • Receive your choice of newsletters
  • Follow topics of interest
  • Receive event invitations
  • Create job alerts & apply for jobs
Luxury

For Luxury Brands, the Latest Battle Is for Local Customers

In the third quarter, Gucci underperformed LVMH’s fashion and leather goods division as well as Kering stablemates like Saint Laurent, underscoring the growing importance of local customers in the age of Covid-19.
Gucci store in Paris | Source: Getty Images
By
  • Vikram Alexei Kansara
  • Gucci beat analyst expectations but trailed luxury peers in Q3, something parent company Kering attributed to the brand's dependence on tourists
  • Rival Louis Vuitton and Kering stablemate Saint Laurent have focused on engaging local customers
  • There may be 1.1 billion fewer international travellers this year
In This Article
Topics
People
Organisations
Location

© 2021 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
© 2022 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions and Privacy policy.