Kering had warned on March 19 that sales over the period were likely to drop by around 10%, dashing hopes it had stemmed sales declines at Gucci, the century-old Italian fashion house which accounts for half of group sales and two-thirds of profit.
Sales updates from Europe s
big luxury brands have offered scant reassurance that Chinese
demand for high-end fashion is recovering, leaving a cloud over
the outlook for the industry. .
Luxury Sector Outlook Clouded by China's Slow Recovery newsmax.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newsmax.com Daily Mail and Mail on Sunday newspapers.
Luxury sector outlook clouded by China's slow recovery businesstimes.com.sg - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstimes.com.sg Daily Mail and Mail on Sunday newspapers.