Gucci's anticipated 20% sales drop in the first quarter of 2024, attributed to an Asia slowdown, prompts parent company Kering to revamp management and introduce new collections.
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Kering issued an unexpected profit warning due to plummeting Gucci sales in Asia, lowering its stock price by 14%.
Criticized and even sued by luxury brand Gucci and others for facilitating the counterfeit goods trade, Chinese e-commerce giant Alibaba Group Holding Ltd has been quietly piloting a scheme to try to curb fakes at source.
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