Gucci’s comeback bid under new leadership has been hit hard, with first‑quarter revenue sliding 8% on a comparable basis — nearly double analyst expectations. Parent company Kering blamed the Middle East war, which cut regional sales by 11% and weighed on global tourism.
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Gucci Sales Plunge 8% Amid Middle East War
Shares fell as much as 8.1% in Paris, leaving them down 14% year‑to‑date. CEO Luca de Meo and artistic director Demna Gvasalia have accelerated product launches, but Gucci’s performance remains critical as it contributes about 60% of group profit.
Rivals LVMH and Hermès also reported weaker sales. Kering has reduced debt by selling its beauty division to L’Oréal for €4 billion, but analysts warn Gucci’s turnaround will take time amid macroeconomic headwinds.
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