For the full 2024 year, Kering’s revenue dropped 12% to €17.2 billion ($18.6 billion), of which Gucci accounted for €7.7 billion ($8.3 billion).

Gucci’s parent Kering scooped up the 115,000 square-foot, three-level retail space at 715-717 Fifth Ave., at East 56th Street, which sits at the base of a 28-story office tower known as the ...