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Gucci sales plunged as shoppers turned away from Kering SA’s largest brand that’s undergoing a second design revamp in three years.
Revenue at the Italian label dropped 25 percent in the second quarter on a comparable basis, Kering said in a statement Tuesday, matching analysts’ estimates. Overall, Kering’s sales tumbled 15 percent, also in line with expectations.
Gucci has suffered more than most peers from a luxury industry slowdown, leading to turmoil at the brand and at Kering more…
