Agenda-setting intelligence, analysis and advice for the global fashion community.

Can Kering Shake Off Gucci’s Growth Hangover?

The Italian mega-brand’s uneven pandemic rebound has some investors worried after years of dizzying growth.

A retro bus was part of a Gucci activation in Shanghai, China in July 2021. Events to promote the brand's latest collection are now on hold due to coronavirus restrictions in cities including Shanghai. (Future Publishing)

Robert Williams

27 April 2022

BoF PROFESSIONAL

When Paris-based luxury conglomerate Kering reported first-quarter sales last Thursday, the overall picture was rosy: explosive growth at its second-biggest brand, Saint Laurent, helped the group’s revenues climb 21 percent on a comparable basis, 6 percent ahead of estimates.

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Sales at Gucci, which generated more than half of Kering’s revenue in the period, rose about 13 percent on a comparable basis, missing analyst expectations.

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