Kering (Gucci): A buzzing show has yet to translate into a meaningful recovery in sales; questions remain around innovation in core categories. LVMH (Louis Vuitton): Reliance on logos is driving consumer fatigue – risk of pricing out aspirational consumers. Tesco: Fresh food promotions have been a key theme; largely insulatedfrom aggressive price cutting by Aldi/Asda; opportunities in retail media revenue

In the luxury space, Yanmei Tang, Analyst at Third Bridge made a series of remarks regarding Kering(Gucci), informed by the insights from industry experts:

Gucci’s Fall/Winter 2026 collection may have dominated social media feeds, yet the momentum has yet to translate into a meaningful recovery in sales. Our experts observe that beyond core "Demna-style" followers, the brand has yet to see a meaningful influx of new customers. The crucial aspirational customer segment remains absent from stores

Looking ahead, our experts say the focus will shift to whether Gucci can convert runway momentum into commercially viable product in the second half of 2026. There are still open questions around the evolution of core categories such as leather goods and shoes, where recent collections have shown limited innovation.

Our experts say organisational changes within Kering add another layer of complexity. The influx of executives from the automotive sector introduces fresh perspectives, but also raises execution risks in an industry defined by speed and seasonal cadence.

Yanmei Tang, also reports on LVMH (Louis Vuitton):

Third Bridge experts suggest Louis Vuitton’s heavy branding clashes with the current shift toward quiet luxury. This reliance on logos, once a strength, is now driving consumer fatigue.

Growth has been largely price-driven rather than volume-led, supported by tariff-related increases across the luxury sector. While pricing power remains intact, this approach risks further pricing out aspirational consumers.

A wave of designer changes across rival houses is driving renewed consumer interest and redirecting spending towards brands perceived as fresher or more innovative.



In the UK supermarkets space, Orwa Mohamad, Analyst at Third Bridge made a series of remarks regarding Tesco.

Third Bridge experts expect UK grocery like-for-like to grow 4%–4.5% in the first quarter of 2026, with food inflation at 3.7%–3.8%. Rising tensions in the Middle East are reviving memories of the cost-of-living pressures triggered by the Russia–Ukraine conflict, prompting early signs of more cautious and selective consumer behaviour.

Fresh food promotions, particularly in fruit and vegetables, have been a key theme in the quarter. Experts say these offers help drive store-wide spending by encouraging shoppers to purchase additional items, while also boosting Tesco’s price credibility against discount rivals.

Tesco appears largely insulated from aggressive price-cutting by rivals Aldi and Asda, according to Third Bridge experts. They say Tesco’s financial strength allows it to match competitors’ pricing without materially impacting volumes or customer growth, as reflected in its rising market share.

Expert believes retail media revenue growth is a big opportunity for Tesco, representing genuine net-new growth in an otherwise constrained supermarket market environment.