Editor
Kering reported third-quarter sales that fell 9 percent at constant exchange rates as the French luxury group struggled to cope with slowing global demand. The drop in North America was particularly pronounced for the Gucci and Saint Laurent owner, with revenues falling 21 percent in the region. Sales fell 10 percent in Europe and rose 1 percent in Asia excluding Japan.
A post-pandemic boom in luxury sales has been winding down for players…
