Gucci owner cuts sales by 13% and struggles in stock market

The decline in Kering’s revenue between July and September is larger than the 11.4% that analysts had expected and comes after a period of stagnation. 14% decrease In invoices Gucci (Enter 2,217 million), and based on 16% on YSL (768 million).

he New Gucci designersabato di sarno, foot His first Collection in September He hopes it’s disgusting It won’t hit stores until 2024. Do some Months, Kering bought the luxury Creed perfume For 3,500 million euros for the imp

The decline in Kering’s revenue between July and September is larger than the 11.4% that analysts had expected and comes after a period of stagnation. 14% decrease In invoices Gucci (Enter 2,217 million), and based on 16% on YSL (768 million).

he New Gucci designersabato di sarno, foot His first Collection in September He hopes it’s disgusting It won’t hit stores until 2024. Do some Months, Kering bought the luxury Creed perfume For 3.5 billion euros to boost its growth in the field of perfumes.

he CEO From the group, François-Henri Pinault, He attributed the fall About sales To “macroeconomic context and demand suppression.” In the luxury sector.

In the nine Firstly Months From aerobics, keyring A bill of 14.599 million euros, 3% less.. The group’s share price fell 3.5% yesterday, and has lost 18% this year, with a capital of 48.8 billion euros.

LVMH and Hermès are slowing down

days ago, LVMH, the global leader in this sector Luxury brands such as Bvlgari, Givenchy, Louis Vuitton and Dior have announced Sales increased 9% in the third quarter, reaching 19.9 billion.

However, increases in interest rates, inflation and a slowdown in the global economy are hurting demand and slowing its growth. Since then, In the second quarter, LVMH billings increased by 17%..

the The slowdown also affects Hermeswhich It entered 15.6% more in the third quarterIn the face of the increase 27.5% from the second and 23% between January and March.