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Gucci sales to plunge 20% in first quarter as Kering issues rare luxury profit warning #GucciSales #LuxuryFashion #Kering #ProfitWarning #FashionIndustry #LuxuryBrands #Retail #FashionNews #DesignerFashion #FinancialUpdate #BusinessImpact #EconomicOutlook #FashionMarket #LuxurySector #RevenueDecline

Luxury fashion house Kering has reported a 13% fall in revenue to €4.5bn (£3.9bn) for the quarter to 30 September, driven by underperformance across all brands and softening demand in the luxury industry. Read the full story here. #fashion #retail #retailnews #luxury #kering #Gucci

Kering Faces Economic Headwinds with Emerging Profit Warnings Kering, a prominent player in the luxury goods sector, has disclosed financial challenges amidst shifting economic conditions. Analyzing the company’s performance provides insights into the broader landscape of luxury retail, impacted by global economic fluctuations and changing consumer preferences. Examining Brand Performance: Gucci: Despite facing modest growth, Gucci remains a cornerstone of Kering’s portfolio. First-quarter revenues for 2023 increased by 1%, attributed to the popularity of its iconic handbags and new collections. Although wholesale revenue declined by 7%, the brand’s direct retail initiatives showcased resilience in adapting to market dynamics. Yves Saint Laurent (YSL): In contrast to Kering’s overall trend, YSL exhibited strong performance, particularly in directly operated stores. With a reported revenue increase of 9%, bolstered by a 14% rise in retail sales, YSL’s strategic focus on enhancing brand desirability contributed to its success, despite a decline in wholesale channels. Bottega Veneta: Bottega Veneta maintained stable revenue year-on-year,... https://lnkd.in/dQnzRE5y

The Global Luxury Handbag market size will be USD 23.5 billion in 2023 and will expand at a compound annual growth rate (CAGR) of 8.60% from 2023 to 2030. Read the Full Report: https://lnkd.in/gWmESmAY Key Players of the Luxury Handbag Market : Macy's., MARC JACOBS INTERNATIONAL, L.L.C. , Michael Kors (USA), Inc.), LACOSTE USA, INC, PVH Corp. , MCM WORLDWIDE , Ralph Lauren, Cartier Guccio Gucci S.p.A. , Giorgio Armani, Valentino, Burberry, CHANEL, DOLCE&GABBANA, Prada Group, and Others Delivery Includes:- Market Timeline 2019 till 2031, Market Size, Revenue/Volume Share, Forecast and CAGR, Competitor Analysis, Regional Analysis, Country Analysis, Segment Analysis, Market Trends, Drivers, Opportunities, Restraints, ESG Analysis, Porters Analysis, PESTEL Analysis, Market Attractiveness, Patent Analysis, Technological Trend, SWOT Analysis, COVID-19 Analysis, Consumer Behavior Analysis, etc.   #CompetitiveInsights #Research #MarketingConsultants #MarketReports #DataAnalytics #BusinessConsultant #ConsultingServices #MarketInsights #BusinessIntelligence #MarketTrends #LuxuryHandbag  #LuxuryHandbagMarket

Luxury fashion’s second-biggest group, Kering, reported fourth-quarter revenues that fell 4 percent on a comparable basis, in line with analyst estimates. Full-year 2023 sales at the French owner of Gucci, Saint Laurent, BALENCIAGA and Bottega Veneta fell 2 percent on a comparable basis and 4 percent in reported terms to €19.6 billion ($21.15 billion). Full-year operating profit of €4.75 billion was slightly below estimates. ”These results are tolerable, with no major negative surprises aside from the margin dilution at Bottega Veneta and Other Houses [the unit that houses Balenciaga, Alexander McQueen and Boucheron],” RBC Capital Markets analyst Piral Dadhania wrote in a note to clients. ”Gucci is not performing worse than expected, which is a relief, and the focus will turn to the earnings call and any potential commentary from management on margin outlook for Gucci as well as timing of inflection,” Dadhania added. Indeed, a series of meetings with financial analysts and journalists Thursday, Kering is likely to face tough questions about why its sales growth is lagging rival luxury conglomerates like LVMH and Richemont by double digits. Read the full report by BoF's Robert Williams.

LMH Briefing: Noteworthy headlines from April: - Miu Miu sales jump 89% and boost PRADA Group - Harvey Nichols appoints ex-Alexander McQueen’s Julia Goddard as CEO - LVMH revenue dips by 2% in Q1 - Luxury brands face increasing pressure to address environmental concerns - Condé Nast’s “Bon Appetit” releases its first copy since 1956 #marketingnews #luxurynews #luxurymarketing #luxuryliving #luxelist #fashionnews The Business of Fashion Luxury Daily

In 2023, #nike remained the top apparel #brand globally, valued at $31.3 billion, maintaining its lead in the industry. Despite challenges, #luxury brands have shown remarkable growth, with Dior's value surging 46% to $13.2 billion, Louis Vuitton increasing by 12% to $26.3 billion, and Chanel growing 27% to $19.4 billion. However, fast fashion labels like H&M and ZARA USA experienced a dip in brand value, linked to changing consumer trends, with H&M dropping 26% to $9.4 billion and Zara declining 15% to $11 billion. #GlobalBrandInsights #FashionBusinessTrends #ConsumerBehavior #RetailInnovation #MarketDynamics

French group Kering SA saw $9B wiped off its market value after warning that sales of the Italian label’s products in China have slumped this quarter. The slowdown is also starting to show up in other corners of the luxury industry. Kering stunned investors with its March 19 announcement that Gucci sales have fallen nearly 20% this quarter, led by the Asia-Pacific region. The share price fell the most in thirty years. #luxuryretail #retailtrends

COVID-19 Hits Gucci Sales: Kering's Profit Warning #consumerbehavior #COVID19impact #fashionindustry #Guccisales #Kering #luxurygoods #marketconditions #profitwarning #revenuedecline #salesstrategies

In any market, consumer’s perception of the brand – Is it trustworthy and reliable? Does it deliver promised benefits? Is the value worth the price? – drives customer engagement and purchase. Consistently, many of the world’s largest luxury brands make The RepTrak Company cut, and this year, as in last year’s survey, luxury brands’ reputation ranking in the top 100 brands globally took a downward turn, with one notable exception. Christian Dior SE entered the list at number 28. And while ROLEX and CHANEL moved up from last year’s poll position, they both remain under their 2022 ranking. Notably Prada fell off the top 100 list this year after being number 99 last year. Replacing Prada in that slot is Hermès. LVMH also lost ground, dropping from number 48 in 2022 to number 93. Also in the bottom decile are Burberry, L'Oréal and HUGO BOSS.