Gucci could be losing its luster, after reporting fourth quarter stagnating sales growth on Friday. However, the CEO of parent-company Kering told CNBC he was unconcerned by the slowdown.
Luxury designer Gucci is Kering's flagship label, accounting for more than half of its market value. Gucci posted near-flat sales growth of 0.2 percent year-on-year for the last three months of 2013, down from 0.6 percent growth in the third quarter.
The slowing growth of Gucci hit Kering's profits, which fell dramatically to 50 million euros ($68.6 million) in 2013 from 1.05 billion euros the year before. The company's recurring operating income also dropped in 2013.
The slowdown in luxury labels has been well-documented, with many companies concerned about the slowdown in emerging markets and the changing tastes of consumers, particularly in China, where they increasingly prefer less flashy labels and more niche products.
(Read more: Logo fatigue? Chinese now want understated luxury)
However, Kering's CEO brushed aside concerns about emerging markets and said he was confident that Gucci would do well in the long-term.
"We had the effect of a lower growth of Asian markets and in particular China, but that was true for all the brands and all competitors of course," François-Henri Pinault told CNBC on Friday.