Bloomberg on Nostr: nostr:note1vmvyrxak72xn7nn60869slqlnu8ngmf3assms2hpmazhs27xwqvsu9n3nk

quoting note1vmv…n3nk

Gucci's Decline in the Luxury Fashion Industry: How the Iconic Brand Fell Off the Catwalk
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#3f6b3431 ver:0.09

Luxury brands like Gucci are struggling in China as stingy shoppers return goods, erasing up to 75% of sales value. The trend of high returns has persisted since China exited Covid Zero, with middle-class shoppers seeking discounts or shifting away from pricier purchases. This has affected sales growth for LVMH and Gucci, while brands like Hermes focus on wealthier customers. Despite challenges, luxury brands must refine strategies for the Chinese market and cultivate relationships with high-net-worth individuals. The global luxury market is experiencing a slowdown, with China's economic sputtering and US inflation. Gucci's decline highlights the need for diversification and strategic planning. #LuxuryFashion #ChinaMarket #GucciDecline...

#newstr #LuxuryBrands #China #Sales #Returns #Gucci

https://here.news/story/3f6b3431?ver=0.09