Kering news and archive

Nature-positive: Kering establishes new environmental benchmarks

As luxury manufacturing becomes increasingly scrutinised for its processes, Kering has emerged as a vanguard in environmental strategy, becoming one of the first global fashion conglomerates to establish scientifically validated targets for nature conservation. The Paris-based group, which operates brands such as Bottega Veneta, Gucci and...

Fashion |Jewellery Featured

Kering launches sustainability jewellery award

French luxury fashion conglomerate Kering has launched a new jewellery award to advance sustainability and innovation targeting universities and start-ups. The ‘Kering Generation Award x Jewelry’ has been launched in partnership with CIBJO, the World Jewellery Confederation, and with the scientific coordination of Poli.Design at Politecnico di...

PeopleFeatured

Kering appoints new CEOs at Saint Laurent and Balenciaga

Kering has announced the appointment of Cédric Charbit as CEO of Saint Laurent and Gianfranco Gianangeli as CEO of Balenciaga, effective January 2, 2025. The company said in a statement that both will report to Francesca Bellettini, Kering deputy CEO in charge of brand development, who from then on will be entirely dedicated to the development...

BusinessFeatured

Luxury shares tumble as Richemont posts sales decline

Swiss luxury conglomerate Richemont, owner of such brands as Cartier, Chloe, and Alaïa, experienced a sharp 6 percent drop in its share value this week, after announcing weaker-than-anticipated earnings. The company reported quarterly sales of 2.2 billion euros, falling short of analysts' projections of 2.45 billion euros, with profits marking a...

People

Gucci welcomes communications professional from Givenchy as part of restructuring

Italian fashion house Gucci, a subsidiary of luxury giant Kering, confirmed to fashion magazine WWD that it is making a number of changes to its team in line with a restructuring. Valérie Leberichel will join Gucci as senior vice president of global communications at the end of December, reporting directly to Stefano Cantino, who will succeed...

Business

Kering and Center for Sustainable Fashion present new governance programme for luxury sector

The Centre for Sustainable Fashion at London College of Fashion, University of Arts London (UAL) today announced the launch of a new programme together with global luxury group Kering. “Governance for Tomorrow” marks the tenth anniversary of the organisation’s partnership and addresses governance in the luxury fashion sector. The three-year...

BusinessFeatured

French luxury titans see wealth decline

LVMH chief Bernard Arnault is no longer the world’s wealthiest man. As the luxury sector grapples with a China slowdown, three of France’s billionaires — Bernard Arnault, L’Oréal’s Francoise Bettencourt Meyers and Kering’s Francois Pinault — are seeing their fortunes dwindle as "restraint replaces indulgence," reports Bloomberg. Their combined...

BusinessFeatured

Kering's Gucci conundrum: Market shows patience despite deepening sales slump

Investors are displaying remarkable faith towards Kering's transformation strategy, even as the luxury conglomerate grapples with a significant 16 percent decline in group sales and persistent challenges at its flagship brand Gucci. The market's measured response — shares edged up 0.5 percent following the earnings announcement — suggests a...

BusinessFeatured

Luxury slowdown impacts Kering's Q3, sales fall 16 percent

Kering Group revenue in the third quarter was 3.8 billion euros, down 15 percent reported and 16 percent on a comparable basis. In the first nine months, the group generated revenue of 12.8 billion euros, down 12 percent both as reported and on a comparable basis. “With discipline and determination, we are executing a far-reaching transformation...

Fashion

Gucci to show Cruise collection in Florence, signalling return to roots

Gucci's decision to stage its next cruise collection in Florence marks a symbolic return to its roots, coming at a crucial juncture for the Italian luxury house as it navigates a period of strategic transformation and management upheaval. Strategic shift amid market challenges The announcement arrives on the eve of parent company Kering's...

Fashion

Brioni inaugurates its Nazareno Fonticoli haute couture school

Yesterday in Penne, Italy, Brioni inaugurated its School of Haute Couture Nazareno Fonticoli, named after the Italian master tailor and entrepreneur who founded Brioni with partner Gaetano Savini, and officially launched the Brioni Foundation. The school opened its doors on September 23. The students have already completed the first three weeks...

Business|Opinion Featured

LVMH sales dip signals broader challenges for the luxury industry

A 5 percent decline in quarterly sales may not spell disaster for LVMH's annual revenue, but for a bellwether like this luxury giant, the stagnation in its fashion and accessories portfolio signals broader challenges for the entire industry. LVMH, long heralded for its ability to weather economic downturns and outpace its competitors, is now...