Kering CEO Luca de Meo has stated that Gucci must rebuild its position in China after years of complacency, treating the market as a place for easy growth. For over a decade, China was the biggest source of growth for the global luxury sector, with Gucci able to capitalise on this advantage. However, the company failed to capitalize on a post-pandemic shopping boom and never recovered when consumer spending slowed. De Meo emphasised that China has evolved into a sophisticated luxury market, with demand driven by logo-centric buying rather than quality, design and experience. He also suggested that brands should not underestimate domestic competition and China's skill for innovation.