Andrea Felsted, Columnist

It’s Even Worse at Gucci Than We Thought

The revival under creative director Sebato de Sarno looks unlikely to deliver until next year.

July 25, 2024 at 9:59 AM UTC

Andrea Felsted is a Bloomberg Opinion columnist covering consumer goods and the retail industry. Previously, she was a reporter for the Financial Times.

Sabato De Sarno after a London fashion show in May 2024.
Photographer: HENRY NICHOLLS/AFP

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Time Is running out for Gucci's makeover.

Sales excluding currency movements and mergers and acquisitions at the Italian fashion house fell 19% in the second quarter, exceeding the drop expected by analysts and showing no improvement on the first three months.