French luxury group, Kering’s sales probably slowed again in the third quarter as the company strives to relaunch its flagship label, Gucci, under a new creative direction, and the sector shows symptoms of slowing demand for high-end fashion.

According to Reuters, shoppers in Europe and the United States are reducing their spending on high-end items.

At the same time, the sector’s performance in China – a crucial development engine – is challenged by record-high youth unemployment and a property crisis.

According to the report, Bernstein cites consensus estimates that project a 6% decrease in Kering sales.


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