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Gucci Owner Kering Hurt by Bigger China Exposure Amid Lockdowns

Gucci Owner Kering Hurt by Bigger China Exposure Amid Lockdowns

Gucci continues to suffer from repeated Covid-19 lockdowns in China, where Kering SA’s biggest brand has a greater exposure than other luxury labels.

Sales at the Italian fashion brand rose 4 percent on a comparable basis during the second quarter, the fashion group said Wednesday. Analysts expected a 4.6 percent gain, according to a survey by Bloomberg. Strong performances in other key markets and by other labels helped the group record an…


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