Kering to launch employee shareholder programme

Luxury fashion group Kering has announced a new scheme that will grant eligible employees the opportunity to become shareholders of the company.

‘KeringForYou’ is part of the group’s way of recognising its teams’ work, it said in a release, allowing them to become sustainably and directly involved in the company’s development and future performance.

The transaction will be available for employees in France, Italy, the UK, the US, Mainland China, Hong Kong, Japan and South Korea, and will involve a maximum number of 200,000 shares, representing 0.16 percent of the company’s share capital.

“Kering’s outstanding success over the past few years is based on each of its employees, their ability to push their limits, and their willingness to contribute to shaping a modern, authentic and responsible luxury,” said François-Henri Pinault, the chairman and CEO of Kering.

Pinault continued: “The launch of this employee shares programme is a sign of recognition for the efforts of our employees and for their commitment to our corporate culture. It reflects my confidence in their involvement and in the future of Kering.”

Pinault will set the subscription price of the shares by May 17, with the subscription period to begin May 19 and run up until June 9.