Those ubiquitous double-G Gucci bags are not whirring retailers’ cash registers as they once used to.
Sales at Gucci, the crown jewel in French luxury group Kering’s portfolio, weakened further in the first six months of the year amid tepid demand for its logo-heavy handbags.
Interesting news surfaced last night: according to Reuters, flash sale site Rue La La is putting itself up for sale with a price tag of $400m and has hired JP Morgan as advisors for any potential deal. This grabbed my attention for a number of reasons.
Earlier this week Hermès’ womenswear designer Christophe Lemaire announced his impending exit from the ultra-luxe label to focus on his namesake collection.
This news, coming just days after the company undershot expectations in its latest quarterly performance, got me thinking about the rapidly evolving status quo forming for one of the star brands in the luxury galaxy.