with contributions from Samantha Conti
 on October 23, 2018

The Gucci locomotive is still going strong, with another market-beating performance — fueled by Chinese and U.S. shoppers — propelling sales at parent company Kering in the third quarter.

As luxury stocks tumble amid fears that Chinese consumption is slowing, Kering reported that Mainland China posted its strongest quarterly growth so far this year, with no significant deceleration during its Golden Week holiday. In addition, Kering chief financial officer Jean-Marc Duplaix played down concerns that Chinese government efforts to crack down on daigou shoppers could dampen business. “The Chinese cluster was very positive during the quarter,” he said on a conference call with analysts after the Paris stock market closed on Tuesday.

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