Gucci In Serious Trouble As Revenue Drops (Kering 2024 Financial Report)

What Are the Key Successes and Challenges in Kering's 2024 Financial Report? Follow me on Twitch: https://www.twitch.tv/fashionroadman My E-Book: https://www.thefashionarchivemag.com/shop Patreon: https://www.patreon.com/fashionroadman Spotify: https://open.spotify.com/show/30khAeSML8vrmhrbCL86Ca Join My Fashion Discord: https://discord.gg/vW6vMz2eHq Website: https://www.thefashionarchivemag.com/ Social Media: https://linktr.ee/fashionroadman Join this channel to get access to perks: https://www.youtube.com/channel/UCVmPyrwjL0wepDhmvgzlOcA/join Donate To The Channel: https://monzo.me/odunayomichaelojo ___________________ MORE INFO Gucci’s sales plunged 24 percent in the fourth-quarter, underscoring the steep decline that prompted the brand to seek a new creative direction. After ousting designer Sabato De Sarno last week, owner Kering is under pressure to name a replacement. Kering’s overall sales fell 12 percent in the quarter, with the decline at Gucci partly offset by an acceleration at stablemate Bottega Veneta. The high-end brand known for its logo-free, intrecciato bags grew 12 percent. Sales continued to decline at Saint Laurent (down 8 percent) and the “Other Brands” division which houses Balenciaga and McQueen (down 4 percent), though these drops were less dramatic than during the previous quarter. Operating profit fell 46 percent to €2.6 billion, slightly above analyst expectations. Kering has been hit hard by a global slowdown in luxury demand, which came at