glossy.co·Apr 14, 2026
Kering reported a 6% decline in first-quarter revenue to €3.57 billion, largely due to ongoing struggles with Gucci, which saw an 8% drop in sales. In contrast, LVMH experienced a slight revenue increase, highlighting a stark difference in performance amid similar market challenges.
Kering's struggle with Gucci's performance highlights an opportunity for fashion tech and innovation to play a pivotal role in revitalizing legacy luxury brands. For those in the fashion startup and tech space, this signifies a potential market for solutions that can enhance consumer engagement, streamline supply chain operations, or improve sustainability practices to attract a more conscientious consumer base.