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Brand boost: Gucci says China sales picking up

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Slump: Gucci’s stores in China suffered during lockdown

Slump: Gucci’s stores in China suffered during lockdown

Bloomberg

Slump: Gucci’s stores in China suffered during lockdown

French fashion company Kering has given a cautious assessment of rebounding luxury sales in China following a "deep impact" for its flagship brand Gucci in the first quarter.

Sales in mainland China turned positive in April for Kering, said its chief financial officer Jean-Marc Duplaix. He cited the repatriation of tourist spending as well as pent-up demand following the coronavirus lockdown as factors.

He warned that the trend of catching up on purchases thwarted by quarantine measures will likely be short-term.