Kering's shares fell by nearly 6 percent on Thursday after signs of a slowdown at the French fashion company's Gucci brand, particularly in the United States, took the shine off a broader rise in sales.
According to a survey for the Altagamma association with BCG, a growing interest in collaborations and second-hand items are the features of a new kind of luxury goods consumption, chiefly by youngsters.
After doubling the size of the Turin branch, the department store chain is making over the interiors of the Florence one, and renovating its second branch in Rome, as the group posted a 21% sales rise in 2018.
Gucci growth is slowing but Kering is OK with that as it's still surging. Meanwhile Saint Laurent and Balenciaga are powering ahead and Bottega Veneta sales may be down, but the omens are good for Daniel Lee's designs.
Kering will again partner with Michelle Obama when the former First Lady presents the French edition of her autobiography, Becoming, in Paris next week, before an audience that will include 350 young women.