Gucci’s sales plunged 25% in Q1 2025, deepening a downward spiral for parent company Kering, whose group revenues fell 14%. With Saint Laurent and Balenciaga also suffering, only Bottega Veneta showed growth. Gucci remains Kering’s biggest brand but struggles despite leadership changes and revamped collections.
Gucci Sales Plunge 25% as Kering Struggles With Luxury Fashion Downturn
A new creative director, Demna, will debut in September amid skepticism over his fit. Analysts remain cautious, citing weak global luxury demand and Kering’s lagging recovery. Cost cuts, store closures, and internal restructuring are underway. While sales to U.S. consumers remain steady, performance in China and Japan is clouded by uncertainty and weakening momentum.
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