Kering, the group behind luxury brands such as Gucci and Bottega Veneta, has published initial estimates for the impact of the coronavirus outbreak.

Accounting for all key markets and brands, Kering estimates that its consolidated revenue for the first quarter of 2020, ending March 31, should show a decline of 13% to 14% in reported terms (down around 15% in comparable terms) as compared with the first quarter of 2019.

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