Kering facing drop in U.S. consumption, CEO says
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FILE PHOTO: Francois-Henri Pinault, Chairman and Chief Executive Officer of French luxury group Kering, speaks during the annual shareholders' meeting of Kering at the company's headquarters in Paris, France, April 24, 2025. REUTERS/Stephanie Lecocq/File
PARIS (Reuters) -Gucci-owner Kering has seen a stark decline of demand for its luxury and fashion goods in the United States, its Chief Executive Francois-Henri Pinault told French senators at a parliamentary hearing on Tuesday.
"The drop in consumption, which has been going on for several weeks now, is quite strong", Pinault said.
Kering last month reported weak first-quarter sales, dragged down by a 25% drop at Gucci.
(Reporting by Tassilo Hummel; Editing by GV De Clercq)
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