Gucci is closing its 720-sqm flagship at Shanghai’s Iapm mall on Huaihai Road on March 17, following two other Shanghai exits last year. Parent company Kering reported Gucci’s 2025 revenue fell approximately 19%-22% to around 6 billion euros ($6.5 billion), with operating profit dropping 40% to 966 million euros ($1.05 billion). Gucci plans to close 100 stores globally in 2026, with 40% in Asia, while increasing entry-level products and outlet discounting.

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