Gucci sales drop by 24% as per its Q4 reports 

Gucci’s sales plummeted by 24% in the last quarter of 2024. Kering, the multinational holding company that owns Gucci, Saint Laurent, and Bottega Veneta, amongst others, reported on February 11, 2025, that the luxury fashion house dropped 24% in revenue in Q4 and 23% in 2024.

Kering recorded a total revenue of €17.2 billion in 2024 which was estimated as a 12% drop when compared with their past earnings. Gucci, Kering’s biggest earner, suffered from lower store traffic and earned €7.7 billion, a 24% decrease from last year’s earnings.

Industry analysts theorize that the brand’s declining earnings depict the struggle of luxury brands to attract customers.

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More details on Gucci's Q4 report from Kering

Francois-Henri Pinault, Chairman and CEO of Kering, spoke on the disappointing sales report:

"In a difficult year, we accelerated the transformation of several of our Houses and moved determinedly to strengthen the health and desirability of our brands for the long term. Across the Group, and at Gucci first and foremost, we made critical decisions to raise the impact of our communications, sharpen our product strategies, and heighten the quality of our distribution, all with respect to the creative heritage that distinguishes our brands."

Disappointing quarterly report notwithstanding, Pinault was optimistic about the growth of the companies under Kering due to strategies already put in place:

"We secured our organization, made key hirings, sped up execution, and intensified the efficiency of our operations. Our efforts must remain sustained and we are confident that we have driven Kering to a point of stabilization, from which we will gradually resume our growth trajectory.”

The report of the luxury brand's revenue drop comes after the brand’s creative designer, Sabarto De Sarno, exited the company earlier in the month. On February 6, 2025, Gucci announced that De Sarno was bowing out as its creative director.

De Sarno, during his time as creative director, popularized the Ancorra red and sought to shift the brand’s focus from online trends to timeless elegance. Dwindling sales plagued the creative designer’s time at the fashion house. The luxury fashion house is yet to announce De Sarno’s replacement and will rely on its creative team for the time being.

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The Italian fashion house will debut its Fall/Winter co-ed collection on February 25, 2025, at the Milan Fashion Week. Word on the streets is that the show will feature some of De Sarno’s last designs for the brand.