Kering news and archive

Kering sells majority stake in three prime real estate assets to Ardian

Paris – Luxury group Kering (Gucci, Saint Laurent) has signed an agreement with investment firm Ardian for the sale of 837 million euros worth of real estate assets in Paris, the company announced Wednesday. The portfolio of assets, in which Kering will retain a 40 percent stake, includes the Hôtel de Nocé on Place Vendôme and two buildings on...

Fashion Featured

Will luxury's musical chairs continue in 2025?

The luxury industry is in flux, grappling with shifting consumer preferences, economic pressures, and a pronounced slowdown in growth. For many houses, 2024 is not ending on a high note. Sales growth, once propelled by logo-laden accessories and high-visibility branding, is losing momentum as younger, more discerning shoppers increasingly favour...

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LVMH invests in experiential luxury with 50m euro villa in Cannes

The world's largest luxury goods conglomerate has made a strategic move into premium real estate on the French Riviera, underscoring a broader trend of high-end brands investing in experiential marketing assets. LVMH has acquired a historic 12-bedroom villa in Cannes for 46.5 million euros, according to Bloomberg, in what represents one of the...

Fashion

Kering Eyewear becomes subject of Harvard case study

Kering Eyewear, the optical subsidiary of the luxury fashion giant, has become a case study at the prestigious Harvard Business School, ending its 10th anniversary on a high note. The story of Kering Eyewear has been written out by members of the company’s team as well as faculty from the school, with the intention to provide both Harvard...

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Bottega Veneta announces creative transition: Louise Trotter to replace Matthieu Blazy

Luxury conglomerate Kering has confirmed the leadership change at Bottega Veneta, with Louise Trotter set to take the helm as creative director, replacing Matthieu Blazy after his three-year tenure. Trotter, who is set to leave her role as creative director of Carven, will assume her new position at the end of January 2025. Leo Rongone, CEO of...

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Kering confirms tax authorities talks regarding Alexander McQueen probe

Kering is believed to have confirmed that it is currently negotiating with Italian tax authorities to settle a tax probe on Alexander McQueen. The company responded to a report by Reuters–which cited sources with knowledge on the matter–that stated Florence-based prosecutors had opened up an inquiry for omitted tax declarations for the years...

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Gucci Logistica increases stake in Colonna Group tannery to 100 percent

Kering subsidiary Gucci Logistica is increasing its stake in Colonna Group to strengthen its investment in the leather industry. Gucci Logistica, which is active in the design, development, engineering, production, purchasing, sales, import and export of Gucci branded products, already held a 51 percent stake in the tannery since 2019, but is...

Fashion

Christopher Kane is first resident guest designer at Self Portrait

Christopher Kane has emerged as the inaugural designer for Self-Portrait's new Residency programme, marking a significant design comeback after his label's administration filing in July 2023. The London-based designer, who successfully bought back his eponymous brand from Kering following financial turbulence, unveiled a thirty-look collection...

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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...

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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...

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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...