PARIS (Reuters) -Gucci-owner Kering has seen a stark decline of demand for its luxury and fashion goods in the United States, its Chief Executive Francois-Henri Pinault told French senators at a parliamentary hearing on Tuesday.
“The drop in consumption, which has been going on for several weeks now, is quite strong”, Pinault said.
Kering last month reported weak first-quarter sales, dragged down by a 25% drop at Gucci.
(Reporting by Tassilo Hummel; Editing by GV De Clercq)
