As Roland Garros captivates sports enthusiasts worldwide, the Florentine house owned by the Kering group is taking advantage of the tournament to launch a tennis-themed capsule collection.
The year 2024 has not started optimally for Kering, with a 10% decline in revenue in the first quarter of 2024 and sales dropping to 4.504 billion euros. The French luxury giant is employing new commercial strategies to rejuvenate the image of its portfolio houses. Among them, Gucci is a primary concern. Despite Kering's efforts to revitalize the Italian house by appointing Sabato de Sarno as artistic director in January 2023 and various high-investment advertising campaigns, the flagship Italian fashion brand is struggling to recover. In the first quarter of this year, Gucci reported revenues of 2.1 billion euros, a decline of 18%.
In recent weeks, a new trend has emerged in luxury: leveraging high-profile public domains, such as sports, to create new commercial momentum. In this spirit, Gucci has designed a tennis-themed capsule fashion collection in June, coinciding with the Roland Garros tournament. This capsule collection draws inspiration from all the elements of the sport: polos, pleated skirts, shorts, and several accessories such as caps, shoes, and bags featuring the brand's iconic monogram. Gucci unveiled a communication campaign a few months ago with Jannik Sinner, now the new world champion, as its ambassador, further cementing its presence in the tennis trend. This highly popular fashion trend incorporates the comfort and sporty-chic elegance of sportswear.
Expectations of the next Gucci results are on the rise. Last April, Kering's management warned that the luxury group's operating profit could plummet by 40% by 2024. This bad news was primarily due to Gucci's mixed performance and challenges in the Chinese market.
Will tennis succeed in giving a new boost to the iconic Italian house?
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