Gucci is turning to everyday wardrobe essentials to broaden its appeal, as the luxury house rebuilds demand beyond fashion-led collections while weak store traffic, particularly in China, continues to weigh on sales.
GucciCore is designed to broaden its appeal, but stronger spending amongst existing shoppers has not yet delivered a recovery. Kering, parent company of Gucci, said in the press release, Gucci recorded revenue of €*,*** million (~$*.** billion) in the third quarter, down * per cent.
While Kering’s total revenue in the third quarter of **** amounted to €*,*** million (~$*.** billion), stable as reported and down * per cent on a comparable basis year-on-year. Kering said Gucci faced a more demanding comparison base and a less pronounced newness effect than in the second quarter.
