PARIS Oct 24 Gucci, one of the world's biggest
luxury brands in terms of sales, posted its weakest growth in
four years with a 0.6 percent rise in like-for-like revenue in
the third quarter.
Gucci, which accounts for more than half of the valuation of
parent Kering, is suffering like rival Louis Vuitton,
part of LVMH, from lower Asian demand and disruptions
related to efforts to reposition itself more upmarket.
Kering's total luxury sales rose 5.6 percent, while analysts
expected growth of 7-8 percent.
The group's Puma brand, which is in the middle of
a restructuring and strategy revamp, saw revenue drop 0.8
percent during the period under review.
(Reporting by Astrid Wendlandt; Editing by James Regan)