French luxury group Kering, owner of Gucci and rival to LVMH, saw its sales drop by 44 % in the past quarter. Despite the first signs of recovery after the lockdowns, especially in China, the second half of the year remains uncertain.
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For the first time, Gucci has launched a fully sustainable collection: the 'Off The Grid' collection uses ecologically sustainable raw materials, production processes and a 'responsible' advertising campaign.
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Italian fashion group Gucci has launched a virtual shopping service, which allows customers to communicate with staff through video chat. The company claims the project is unique in the luxury fashion sector.
Gucci wants to focus on just two collections per year. By abandoning anything in between, the Kering subsidiary joins a growing list of major names in fashion, who want to make the fashion industry more sustainable after the coronavirus crisis.
The coronavirus outbreak, especially in China, has a major impact on luxury group Kering: the Gucci owner saw turnover drop 15.4 % in the first quarter. Nevertheless, the fashion house is already seeing signs of recovery.
French luxury group Kering, owner of brands such as Gucci and Yves Saint Laurent, has once again experienced a year of strong growth. However, the precarious situation in China is causing the French group significant headaches.
French luxury group Kering (Gucci) has been rumoured to make a bid on Italian clothing and lifestyle company Moncler. The expensive down coats producer would be the latest target in a continuing war with archrivals LVMH.
In the third quarter, the French Kering group saw its revenue rise sharply again. All major brands (Gucci and Yves Saint Laurent) contributed to the group’s growth.
The Italian tax authorities are opening an investigation into tax evasion among the top management of Gucci, the Italian subsidiary of luxury holding company Kering. More than twelve (former) managers are under investigation.
French luxury group Kering is rumoured to settle an Italian tax dispute for 1.3 or 1.4 billion euros, closing a case of alleged tax evasion by its subsidiary Gucci.
French luxury group Kering has had a spectacular 2018: the parent holding of Gucci and other luxury brands increased its turnover by 29.4 % and net profits even doubled. Still, there are dark clouds on the horizon: the company is facing a multi-billion euro fine.
French luxury group Kering achieved a 36.5 % turnover increase in its first quarter as Gucci took full advantage of a 90’s revival among young consumers: the luxury brand is “hot” among teens and saw its turnover climb 48.7 %.
French luxury group Kering proved to be very successful in 2017: its turnover grew 25 % and its net profit more than doubled compared to the year before.
Fashion brand Gucci has opened a museum and a restaurant for fifty people in Florence. Three-star chef Massimo Bottura will serve high-quality meals there. A dish will cost between 20 and 30 euro.
The Italian police raided Gucci’s offices in Milan and Florence, looking for evidence of tax avoidance. The fashion label admitted there was an investigation and that it is fully cooperating.
Fashion brand Gucci will no longer use fur in its clothing and accessories, as CEO Marco Bizzarri promised during his Kering Award for sustainable fashion acceptance speech for the London College of Fashion.