Kering news and archive

Kering finalises acquisition of Valentino shareholding

Luxury giant Kering has announced that it has completed the acquisition of a 30 percent shareholding in Valentino after receiving a green light from antitrust authorities. The conglomerate had initially announced its intentions in July, stating at the time that it had entered into a binding agreement with investment equity firm Mayhoola for the...

People

"I was a commercial fashion designer," Tom Ford says in GQ exit interview

One year ago, in November 2022, the fashion industry witnessed the acquisition of Tom Ford International by beauty behemoth Estée Lauder for a cool 2.8 billion dollars. In an exclusive interview with GQ’s Editorial Director Will Welch, Tom Ford, the eponymous designer, offers unfiltered insights into this unprecedented business move and why he...

Business

Boucheron acquires haute jewellery workshop

Haute jeweller Maison Boucheron has strategically acquired a renowned fine jewellery workshop near Place Vendôme in Paris, reinforcing its commitment to expanding production capabilities. Comprising four entities—Blondeau, Belter, Chanson, and FG Développement—the workshop has been operating collaboratively at the same address since 2017....

Business

Third quarter revenue postings have shown a shift in luxury dynamics

It has been an interesting third quarter in the realm of luxury fashion. Power dynamics are shifting as global demand for luxury goods is both waning and changing. The luxury industry is shifting its focus to the ultra-wealthy as the middle class cuts back on spending, said the Washington Post in a comment piece this week. Gucci-owner Kering...

BusinessFeatured

Kering's lagging sales may be indicative of a global slowdown

Kering, the Paris-based luxury conglomerate, witnessed a significant downturn in sales during the third quarter, with group revenue plummeting by 13 percent to 4.5 billion euros. This sales slump extended across most of Kering's houses, including prominent brands like Bottega Veneta, Balenciaga, Gucci, and Saint Laurent. Notably, Gucci, once...

BusinessFeatured

Kering's Q3 revenues decline across brands

Kering Group revenue of 4.5 billion euros in the third quarter of 2023, was down 13 percent as reported and down 9 percent on a comparable basis, with revenues declining across its brand portfolio. In the first nine months of the year, the Group generated revenue of 14.6 billion euros, down 3 percent reported and 2 percent on a comparable basis....

Fashion

Three Chinese start-ups honoured at Kering Generation Awards

Luxury conglomerate Kering and global innovation platform Plug and Play China revealed the winners of the third Kering Generation Awards during Shanghai Fashion Week. The Kering Generation Awards in China was launched in 2018 as part of the group’s sustainability strategy to recognise and support Chinese start-ups bringing about positive...

Business

Bottega Veneta to launch new academy to preserve craftsmanship

Bottega Veneta on Monday announced the establishment of a new academy. Called the Accademia Labor et Ingenium, the school reinforces the luxury brand's commitment to traditional craftsmanship. Named after the brand's founding values, 'Labor et Ingenium, Craft and Creativity,' the academy will offer training, workshops, and lessons at its...

PeopleFeatured

Kering called out for lack of diversity in top design jobs

The departure of Sarah Burton from Alexander McQueen signifies not only the conclusion of her 26-year tenure at the British luxury brand but also marks the absence of female creative directors among Kering's top fashion houses. Kering, which owns brands like Gucci, Balenciaga, Saint Laurent, Bottega Veneta, and Brioni, currently employs creative...

PeopleFeatured

Alexander McQueen names new creative director, Sean McGirr

Just days after Sarah Burton took her final bow, Kering has named a new creative director for the British fashion house Alexander McQueen. Sean McGirr will be filling Burton’s daunting shoes, joining the company from JW Anderson, where he was most recently head of men’s ready-to-wear. McGirr’s appointment was confirmed in a press release from...

Fashion Featured

At Paris Fashion Week Balenciaga gave us a sense of deja vu

When a shoulder is so bold it challenges convention, how can it be made bolder? When a silhouette is already so oversized, and the wearer appears shrunken in proportion, how can this be scaled up? Balenciaga's Spring Summer 2024 show made a resounding statement by embracing significantly more bolder and oversized propositions. Creative director...

Podcast

Podcast: Kering executive about managing creativity, customers and the bottom line

Francesca Belletini is the recently appointed brand development deputy CEO at Kering. She is also the CEO of fashion brand Saint Laurent. Speaking to Business of Fashion, Belletini elaborates on nurturing creativity, gathering customers and making sure a business is profitable. Source: The Business of Fashion Podcast