Gucci's Designer Departure

Gucci's designer Sabato De Sarno is leaving after a short tenure, adding uncertainty to the fashion industry. His departure reflects unrealistic expectations for fashion turnarounds. The brand is now looking for a new creative direction.

Slowdown in Chinese Luxury Market

Luxury brands like Gucci are experiencing a slowdown in sales in China due to various factors including rising unemployment and a property downturn. Kering SA, the parent company of Gucci, saw a significant drop in market value after reporting a slump in sales. Other luxury brands are also feeling the impact of the slowdown in Chinese consumer demand.