Finance
Kering facing drop in U.S. consumption, CEO says
Published by Global Banking & Finance Review®
Posted on May 13, 2025
1 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on May 13, 2025
1 min readLast updated: January 23, 2026
Kering's CEO reports a significant decline in US demand for luxury goods, affecting Gucci's sales. This trend has persisted for weeks, impacting financial results.
PARIS (Reuters) -Gucci-owner Kering has seen a stark decline of demand for its luxury and fashion goods in the United States, its Chief Executive Francois-Henri Pinault told French senators at a parliamentary hearing on Tuesday.
"The drop in consumption, which has been going on for several weeks now, is quite strong", Pinault said.
Kering last month reported weak first-quarter sales, dragged down by a 25% drop at Gucci.
(Reporting by Tassilo Hummel; Editing by GV De Clercq)
The main topic is the decline in US consumption of Kering's luxury goods, particularly affecting Gucci's sales.
Francois-Henri Pinault reported a significant drop in US demand for luxury goods, impacting Gucci's sales by 25%.
Gucci experienced a 25% drop in sales during the first quarter due to decreased US consumption.
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