• Bloomberg

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Fashion conglomerate Kering is seeing signs of a recovery led by online sales after pandemic-induced lockdowns hit the previously runaway demand for the Gucci owner’s clothing.

Luxury brands are trying to make up for lost time after COVID-19 exposed their reliance on in-store business. During the second quarter, e-commerce sales soared 72 percent, Kering said in a statement Tuesday. But this was still only 13 percent of total retail sales at the end of June — showing more work is needed to get shoppers to splurge online for handbags and high fashion.

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