Fendi's sales fall by double digits as Chiuri's turnaround struggles, Puck reports

LVMH faces a difficult turnaround at Fendi, a year after it handed Maria Grazia Chiuri sweeping control as the house’s first chief creative officer, Puck reported on Monday.

What Puck reports

• Citing multiple sources familiar with the figures, Puck said Fendi’s sales are down by double digits every month this year and by as much as 50% in menswear.
• Chiuri debuted in February 2026 with men’s and women’s collections; her products only began reaching stores in July.
• Sources told Puck her items sell well in markets such as the US and that orders for her second collection beat internal projections — loyal clients sometimes buy shoes five pairs at a time.
• But some clients appear to have moved to rival houses such as Sarah Burton’s Givenchy and Jonathan Anderson’s Dior, and Fendi lost handbag designer Marco De Vincenzo to Givenchy in May.

The bigger picture

Puck described Fendi as a brand generating about $1.5 billion in sales with too many layers of staff, noting that restructuring often shrinks sales temporarily. Fendi and LVMH did not comment for the story. The figures come from unnamed sources and have not been confirmed by the company.