Kering, the French luxury group behind Gucci, Saint Laurent, Bottega Veneta, and Balenciaga, delivered another sobering earnings update in Q2. Group revenues fell 15% year-on-year to €3.7 billion, while operating income dropped 39% to €969 million. But the headline figure came from Gucci itself, sales slumped 25% to €1.46 billion, making it the