At the end of last month, Kering SA (KER.PA) Kai Yun group released the three quarter earnings as of 30 in September 2014, and Gucci Gucci business showed no signs of improvement. The three quarter sales fell 1.6%, from 864 million 800 thousand euros to 851 million euros in the same period last year.

1.9%, far below analysts' expectations of a 0.6% decline.

According to No Agency, a research firm, sales of Gucci Gucci brand have dropped for 5 consecutive quarters, and the three quarter of this year has declined compared with sales.

Julius Baer Luxury Brands Fund, head of the Swiss luxury speculation fund, told Reuters in an interview that some brands had been saturated in the Asian market and produced an aesthetic fatigue.

Julius Baer Luxury Brands Fund holds Gucci Gucci brand rival Louis Vuitton Louis Vuitton parent company LVMH Mo Mo t t Luxury (MOET & CHANDON) Hennessy LV group shares.

Since 2012, due to the slow recovery of the global economy, the slowdown in China's economy and the government's anti-corruption led to a sharp slowdown in the growth of the luxury market, while the recent Ukraine,

Geopolitical crisis and Hongkong's "occupy the middle" movement have made the luxury market worse. Especially in the Asia Pacific market, some brands and clocks, famous wines and other products are clouded and there is no improvement.

Although the environment is the same, Gucci Gucci, Louis Vuitton Louis Weedon and Herm s s have different performances, among which Gucci Gucci performs worst and sales decline continuously, while Louis Vuitton Louis Weedon grows dynamically, showing an overall low digit growth rate; Herm s s performs best, and the Asia Pacific region is still its leading market, contrary to the Asia Pacific decline of Gucci Gucci and Louis Weedon.

Analysts and investors have criticized Gucci Gucci for its lack of innovation capability, too many accessories, too much price and too fast price increases.

Luca Solca, a leading industry analyst and Exane BNP Paribas, said Gucci Gucci should learn from Hedi Slimane to bring about changes in Saint Laurent. "You can't always use the old logo, you need to break through innovation."

Saint Laurent is the fastest growing flagship brand of Kering SA and the whole group. The controversial designer, Hedi Slimane, has been leading double-digit growth after joining the brand. As of the 30 quarter of September 2014, the brand revenue increased by 27.6%, an increase of 27.5% over the basis, from 139 million 300 thousand euros in the same period last year to 177 million 800 thousand euros.

Bottega Veneta brand revenue increased by 10.4%, an increase of 10.8% over the basis, although there is still double-digit growth, but since joining the 1 billion euro club, the growth rate has also slowed sharply compared with the previous double digits.

For the industry's lack of "innovation" accusation, Kering SA, a spokesman for Kai Yun group, told Reuters that the group is satisfied with the "high-end strategy" of Gucci Gucci.

As Asian sales slowed down or dropped, the two luxury goods Gucci Gucci and Louis Vuitton Louis Weedon announced in a high profile in 2013 "high-end strategy", which focused on products with higher prices and carried out the "go Logo" campaign.

However, for the "high-end strategy" of the two brands, the industry is more regarded as "marketing strategy". Luxury industry analysts say that "Gucci, Louis Vuitton's sales and profits basically rely on low price products, high priced products are brand and marketing strategies, luxury goods market can be selective now too big, high priced products will attract only a small number of consumers, but it drives out more consumers."

According to Reuters statistics, over the past 4-5 years, Gucci Gucci has increased its total price by more than 40%, which has also prevented many consumers from evade. Most luxury goods will raise their prices about 2 times a year, with a price range of 5%-10%.

In addition, unlike Louis Vuitton Louis Weedon, Herm s Hermes, who constantly held exhibitions and moved the exhibition to China, Gucci Gucci rarely did similar marketing.

Jimmy Choo co-founder Tamara Mellon said Tom Ford left Gucci Gucci was missing some "special things". In 2004, Tom Ford and Domenico de were left after the Gucci Gucci era was ended. The two people not only brought Gucci back to life, but also made the brand one of the most famous and most profitable luxury goods.

Kering SA has been making changes in the past year in the luxury sector, including the Gucci Gucci brand, including the launch of cosmetics. Gucci Gucci cosmetics was first launched by Procter & Gamble Co. (NYSE:PG) P & G P&G agency in September. However, the industry estimated that the first year sales will be about $15 million, which is a drop in the bucket for the Gucci brand with sales of up to 3 billion 500 million euros. Besides, the brand also announced 2 years' advance of the agent's right to recall the Gucci Gucci glasses from the agent Safilo (Gucci) group.

In addition, Gucci Gucci has just appointed Gucci Gucci, Taiwan regional general manager Merinda Yeung, will be the president of Gucci Gucci brand Greater China, to fill the vacancy after the departure of Carol Shen Shen Xiangmei in January 2014.

Service Est e e Lauder Cos. Inc. (NYSE:EL) Estee Lauder for more than 20 years, has been the Carol manager Shen of China General Manager Shen Xiangmei joined Gucci Gucci 9 in 2012, only after serving the Gucci Gucci brand 18 months later, she left suddenly.

However, Merinda Yeung is also a "rookie" of Gucci Gucci brand. She joined the brand in January 2014, and has been working for Gucci Louis's biggest rival, Louis Vuitton Louis Weedon since 1999, from the store manager to the Retail Director, and then to join Chanel Chanel.

Merinda Yeung will be formally completed in January 2015 and report to the brand CEO Patrizio di Marco.