PARIS: Shares of Kering are expected to open down on Wednesday, after the company warned first quarter sales at its star label Gucci would drop by around 20% due to weakness in Asia.
The warning underscores the challenge Kering faces as it seeks to reignite sales momentum at Gucci, which accounts for half of group sales and two-thirds of profit, while navigating economic headwinds in key markets - especially China.
