Kering has warned that Gucci’s sales could fall by almost 20% in the first quarter of 2024, against an expected decline of 6.5%. Gucci has begun renewing its offer to rebuild its commercial momentum, although designer Sabato de Sarno’s Ancora collection will take several months to roll out across the chain.
These results come in contrast with the one of LVMH which showcased a 3% organic growth for 2023.