Kering
Gucci continues to be a drag on Kering’s performance
The France-based luxury group has reported a weak first quarter. Gucci continues to weigh down on its performance, with revenue down on a reported basis by 24% year-over-year
Demna named new creative director at Gucci
Demna, who has been creative director of Balenciaga since 2015, has been appointed as the new creative lead at Gucci, the Kering Group, parent to both houses, announced
Kering reports a 12% decline in full year revenue
The French-based luxury group ended the year in the red once again, with full year revenue down by 12% on the previous year. Sabato de Sarno has since left Gucci
Bottega Veneta appoints Louise Trotter as Creative Director
The British designer will succeed Matthieu Blazy at the creative leadership of the luxury label, parent company Kering and Bottega Veneta announced in a joint release
Gucci fully acquires Colonna Group tannery
Gucci Logistica, a subsidiary of Kering, has increased its stake in the Colonna Group to 100% for an undisclosed sum, thus strengthening its investment in the leather industry
Kering leads the fashion industry with science-based targets for nature
The French group became the first fashion company to set measurable science-based goals for reducing water use and land footprint, including both its direct operations and supply chain
Kering and Centre for Sustainable Fashion launch new governance programme
Launched by Kering and the Center for Sustainable Fashion, “Governance for Tomorrow” is a three-year programme that aims to bring together experts from different sectors to develop alternative governance models in luxury fashion
Kering issues third profit warning of the year
The owner of Gucci and Yves Saint Laurent has issued a third profit warning amid a downturn in the luxury market and after posting a “larger-than-expected” slowdown in the third quarter
Kering promotes Stefano Cantino to CEO of Gucci
The French luxury group has announced that Stefano Cantino, who joined Gucci in May 2024 as Deputy CEO, has been promoted to CEO of the brand. He will succeed Jean-François Palus
Kering profits plunge in the first half
Amidst a general slowdown in demand for luxury goods and with Gucci struggling badly, Kering has seen its first half net profit halved as compared to the same period last year
Kering expects H1 recurring operating income to decline by 40-45%
The French-based luxury giant expects its first half operating profit to plummet by 40% to 45%, after reporting a 10% year-over-year fall in sales, largely due to the weak performance of Gucci
Luxury hit the brakes in 2023
Ahead of the 2024 first quarter results, here’s a look at the sales figures reported by the world’s major luxury players in 2023, which were in general affected by a slowdown in luxury demand
New deputy CEO for Gucci
Kering, the French-based luxury group that owns Gucci, has appointed Stefano as deputy chief executive officer of the Italian house. The move comes amid efforts to revive Gucci
Kering warns of a 20% slump in Gucci sales for the first quarter
The French-based luxury group has issued a preliminary statement for the first quarter, warning of a 10% drop in sales, led by its star house Gucci-
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