Efforts to build traction around De Sarno’s vision were stymied by a broad slowdown in luxury demand, with more accessible, fashion-driven luxury brands like Gucci being hit harder than most. Yet, Gucci hasn’t been able to reinforce its trade with more resilient wealthy shoppers fast enough to offset the decline in other parts of its business.
Gucci reported nine-month sales down 21 percent in 2024. Owner Kering reports annual results Feb. 11.

Sabato de Sarno, GUCCI
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