According to Yahoo Finance: Gucci recently held a cruise collection show at the Tate Modern in London, with A-list celebrities in attendance, including Salma Hayek, Debbie Harry, Demi Moore, and Dua Lipa. The show marked the first outside of Milan for Sabato De Sarno, the luxury brand's new creative director. François-Henri Pinault, the CEO of Kering, Gucci's owner, was seen "beaming confidently" alongside his wife Salma Hayek.
Gucci's parent company, Kering, has faced disappointing revenue growth, with the brand's income slipping by 6% to €9.9bn (£8.5bn) in the previous year. Kering has also forecast a 45% decline in profits for the first six months of the year, with Gucci being the primary driver of this decline. Increasing investor frustration is evident, as the value of Pinault's empire is seen as crumbling.
Pinault had previously expressed confidence in Gucci's potential... stating that it might have the same potential as Louis Vuitton over time. However, "six years later.".. such confidence appears misplaced. Some investors are suggesting that Pinault may need to consider passing the baton at Kering and bring in fresh blood to revive the brand's performance.
Source: See hereGucci's parent company, Kering, has faced disappointing revenue growth, with the brand's income slipping by 6% to €9.9bn (£8.5bn) in the previous year. Kering has also forecast a 45% decline in profits for the first six months of the year, with Gucci being the primary driver of this decline. Increasing investor frustration is evident, as the value of Pinault's empire is seen as crumbling.
Pinault had previously expressed confidence in Gucci's potential... stating that it might have the same potential as Louis Vuitton over time. However, "six years later.".. such confidence appears misplaced. Some investors are suggesting that Pinault may need to consider passing the baton at Kering and bring in fresh blood to revive the brand's performance.
Succession Drama Grips Gucci As Sales Fail To Make The Cut
• Gucci executives appeared relaxed at show.
• Kering expects 45% profit fall.
• Investors frustrated by Gucci's poor performance.
• Pinault's empire value crumbles under pressure.
As a stream of A-list celebrities took their seats in the basement of Tate Modern earlier this week for Gucci's latest cruise collection, executives appeared relaxed. Seated next to his wife, Salma Hayek, François-Henri Pinault, the chief executive of Gucci owner Kering, “beamed confidently”, wrote The Telegraph's head of fashion Lisa Armstrong after the show .
