Gucci is not only a drop in sales of the brand, LVMH Group fashion and leather goods sales also showed a downtrend, and only 5% sales growth in the third quarter.
Mulberry and Burberry brand has released the results of statements, significant downtrend so many people guess luxury three excellent trend is about to reach the end. China has been the largest sales market for luxury goods, but luxury consumption in recent months, the Chinese government began to vigorously against government officials, while the pace of development of China's economy slows to a large extent affect the sales of luxury goods. In the first-tier cities, the luxury of a very competitive market these luxury brands competing stationed became the second-tier cities. Gucci's sales in the Chinese market has been showing a trend of double-digit growth, but the growth rate in the third quarter decreased significantly.
The PPR aspect, to sell its Redcats brand initiative is also in full swing in the PPR Group decided to focus on the development of luxury brands, CDs and books will be operating Redcats brands excluded from the Group.
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