Nick Martell
š¤ SpeakerAppearances Over Time
Podcast Appearances
Ah, yetis, let's start by sprinkling on the context.
Investors overall not rattled by the war in Iran.
Stocks are at all-time highs, but investors in luxury stocks
are rattled.
That's right, LVMH, their stock is down 25% just so far this year.
Because dudes in Dubai aren't buying $1,000 crocodile belts right now when their country is being attacked.
And that is why Gucci looks more like Fucci these days.
Gucci, their sales are down half from their all-time peak.
Gucci, owned by Kering,
has seen sales fall 11 straight quarters.
In fact, Gucci's gone through three different creative directors in just the last three years.
The Cleveland Browns can't find a quarterback.
Gucci can't find a creative director.
2021, Lady Gaga, Adam Driver.
They did a whole Gucci movie.
It was Oscar bait.
We watched it.
Now, that didn't win an Oscar.
But it did mark the peak for the Gucci brand in real life.
It has, because Gucci forgot the golden rule of luxury that Jack and I always talk about.