For those who follow the financial performance of luxury brands, it is notable that luxury goods and accessories always do better than luxury fashion, especially when global consumption in these sectors is down overall.
During a time when GenZ and Millenials, the main customer segment of Gucci fashion, are stuck at home in lockdowns, are perhaps experiencing loss of income, and have swapped showing off their Gucci fashions in real life with making funny videos on TikTok, it is not surprising that the parent company's Kering stock fell 6% on Friday.
