Kering Shares Fall 11% on Gucci Slump

Kering Group's share, the owner of the Gucci brand, has decreased by 11% due to ongoing sales declines, despite the company's commitment to the transformation plan led by CEO Luca De Meo, which includes closing 125 stores by the end of the year. The brand continues to face difficulties in recovery due to worsening global market conditions, including the impact of the war in the Middle East, strict tax measures in China, and the effects of protests and riots in Paris. These factors threaten the future of the luxury goods sector and put increased pressure on major companies within the industry.

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