Gucci’s parent says the coronavirus outbreak has forced it to shuffle its logistics and production, in the latest sign that the epidemic is roiling the luxury industry
PARIS—Gucci parent Kering SA said the coronavirus outbreak has hit its business in China hard and forced it to shuffle its logistics and production, in the latest sign that the epidemic is roiling the luxury-goods industry.
The outbreak interrupted a strong run in the fourth quarter and January for Kering, which also owns Saint Laurent, Bottega Veneta, Balenciaga and other brands. Sales in the quarter rose 11% to €4.36 billion .
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