The luxury market demands bolder solutions Photo: Dima Pechurin / Unsplash
08.05.2026 1970

The luxury market demands bolder solutions

Luxury group Kering ended the first quarter of 2026 with a decline, and for Gucci, which is part of the group, it was the eleventh negative quarter.

The ReconKering plan, presented by CEO Luca de Meo, aims to reduce leather use by 30% by 2028 and transition to alternative materials by 40% by 2035. This strategy is consistent with the company's efficiency-focused approach, but it is controversial for the luxury goods sector, where leather has never been simply a component but rather a source of value, identity, and, above all, heritage. Analysts are less than enthusiastic, and HSBC has downgraded the group's shares.

The era when China generated new luxury buyers annually is over. The market is no longer expanding, but rather moving within established boundaries. Competition is reaching a new level: capturing customers is not enough; it's necessary to convince them that the product being offered has real, cultural, and long-term value.

Source: Laconceria.it

 

Luxury group Kering ended the first quarter of 2026 with a decline, and for Gucci, which is part of the group, it was the eleventh negative quarter…
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