Gucci's Owner Just Had His Worst Day Ever. Here's Why.

Kering stock crash explained. Shares in Kering, the owner of Gucci, Saint Laurent, Bottega Veneta and Balenciaga, fell 16.6% on Friday, October 23, 2026, their worst day ever, after Gucci sales fell again in the third quarter. We break down the number most headlines skipped, why investors gave up on the Gucci comeback, how big Gucci used to be, Luca de Meo's turnaround plan, and why even Hermes and LVMH are falling as the richest shoppers pull back. Timestamps 0:00 Kering's worst day ever 0:32 The number most headlines skipped 2:13 Why investors expected a comeback 3:45 How big Gucci used to be 4:57 Luca de Meo's plan to fix Kering 6:23 Hermes, LVMH and the richest shoppers 7:52 The bright spots 8:29 Three things to watch 8:54 Can Gucci come back? If this helped you understand the case, subscribe and leave a like. Drop the word LUXURY in the comments if you want more breakdowns like this. New case tomorrow.