Luxury weakens: Gucci in the crisis

The Luxjusbranch receives at the moment Given the economy that is poorly running in many countries, a general Feeling demand for leather goods, jewelry and fashion. Business runs in China, especially in China, and buying buying is spreading. Before the Corona pandemic, the corporations achieved record profits thanks to the consumer mood in Asia. But the People’s Republic has not really come out since Corona.

This ensures the Paris luxury goods group Dry for Burglaries. Above all, the Italian flagship label had to Gucciwhich makes up almost half of the group sales and about two thirds of the profit. The sales of the brand collapsed 23 percent in 2024 – to 7.6 billion euros. The Italian luxury label has been financially financially in difficult career water for some time.

Creative director fired

Financial chief also Armelle Poulou Looks a glimmer of hope. At the end of the year, improvements to Chinese customers who hesitated with the purchase of luxury items and in the United States were slowly moving due to the uncertain economic prospects, the manager said.

Last week, Gucci creative director Sabato de Sarno was fired and is now looking for a new designer who attracts solvent buyers. The board will now select a new artistic management. This will then be together with Gucci boss Stefano Cantino the luxury label “leads to renewed fashion guides and sustainable growth,” the deputy board member had Francesca Bellettini insured last week.

Marketing expert Cantino took over the helm at the beginning of the year and is intended to advance the renovation of the group’s most important brand. He solved JEan-François Palus from, which was only appointed boss of Gucci in July 2023.

Cosmetic company Coty revises the forecast down

The US cosmetics manufacturer Coty, which leads the scents of the brands Gucci and Hugo Boss, revises the forecast. For this year, the company expects a profit of 50 to 52 cents per share. Previously, Coty had assumed 54 to 57 cents. The reason is a slowdown of the demand for cosmetics for the US mass market, a tight warehousing of retailers, the closure of drugstores and weak visitor numbers in department stores, said Coty on Monday.

The net turnover of the company controlled by the German entrepreneurial family sank in the second quarter of $ 1.73 billion to $ 1.67 billion (1.62 billion euros). Coty shares gave up 4 percent in post-interconnected trade. Last year the shareholders lost almost 44 percent.