The house of Gucci is proving to be a tough one to revive. The arrival of designer Demna Gvasalia has not produced the energetic reboot that investors hoped for, retailers and sources close to the brand said. When parent Kering publishes first-quarter figures this week, they will show that Gucci’s sales have continued to decline, albeit at a slower pace than before. The brand’s poor performance puts CEO Francesca Bellettini in a vulnerable position. Some industry sources suggest she may have to leave unless Gucci shows tangible progress soon.
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