The headline was Gucci. The headline was always going to be Gucci, in the same way the Ever Given was destined to dominate the news cycle when the mammoth vessel, one of the largest container ships ever built, got stuck in the Suez Canal back in 2021.
Gucci is, in a way, the Ever Given of the personal luxury goods trade. With more than 500 stores worldwide and an estimated market value in 2022 of $35.3 billion, it is that skyscraper-size tanker, caught sideways. The entire fashion business took a hit during the pandemic and then bounced back, or seemed to, with a surprising resilience. Then it encountered something that
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