Kering news and archive

Kering opens headquarters in central Milan

Luxury group Kering has unveiled a new headquarters in the centre of Milan, Italy, to reaffirm the company’s commitment to its home turf. The 9,500 square metre space covers the entire six floors of Palazzo Pertusati, a building on the Via Senato designed by 18th century architect Simone Cantoni. The interiors of the site have been reconfigured...

Fashion Featured

Not so carbon neutral: Gucci adjusts sustainability goals

Gucci is under scrutiny for reportedly adjusting its approach to reduce its environmental impact, raising questions about the future of sustainable fashion. The report has drawn attention to Gucci's ambitious decadelong plan to reduce its environmental footprint, according to the Business of Fashion. Gucci was very vocal about its carbon neutral...

Business

Kering partners with Sonovia on denim dyeing technology

Kering has struck up a deal with Israel-based Sonovia and Italian manufacturer PureDenim that will see the French luxury group help to develop and install indigo yarn dyeing technology into its denim production lines. The agreement comes as part of the conglomerate’s ongoing sustainability strategy, in which it has stated that it is aiming to...

BusinessFeatured

Kering's lagging US sales shows market is normalising

Luxury sales in the US are showing signs of normalisation after the frenzy of post-Covid buying fever last year. Double-digit increases in demand for luxury goods have given way to a decline, which is countering the recovery in China. While China's easing of Covid lockdowns has significantly reawakened the recovery of shopping for luxury...

Business

Kering reinforces ban on angora following PETA pressure

Luxury group Kering is believed to be re-banning angora and rabbit felt across its brands after heightened pressure from the animal rights group, People for the Ethical Treatment of Animals (PETA). The conglomerate – owner of the likes of Gucci, Balenciaga and Saint Laurent – confirmed to PETA, which is a shareholder in the group, that its “...

Business

Kering announces departure of board director Daniela Riccardi

At the board meeting on April 27, 2023, Daniela Riccardi submitted her resignation from her position as a director of Kering, the position she held since 2014. The company said in a release that on his own behalf and on behalf of the board of directors, chairman François-Henri Pinault warmly thanked Riccardi for her involvement and her...

BusinessFeatured

Kering: Q1 revenues improve marginally by 1 percent

In the first quarter of 2023, Kering Group’s revenue grew by 2 percent as reported and by 1 percent on a comparable basis to 5,077 million euros, with trends improving throughout the period. “Kering’s performance in the first quarter remained mixed, as we had anticipated. As we work to augment the desirability of our brands and raise their...

Retail

Kering splashes out 13 million pounds on London YSL store

Luxury conglomerate Kering has reportedly agreed to a “record” lease for a new Yves Saint Laurent store on Bond Street, London. The group splashed out a staggering 13 million pounds on the retail space, which is believed to have set a record rent for the UK, according to market sources for the Sunday Times. The property in question is a...

Business

Kering outlines new 40 percent GHG reduction target

Kering, a luxury fashion conglomerate, has outlined a new commitment to reduce its greenhouse gas emissions (GHG) by 40 percent by 2035. The group said the new target came as a next step in accelerating its sustainability strategy, which it is looking to implement throughout its portfolio of brands. Linked to a 2021 baseline, it builds on the...

Business

Kering Eyewear acquires French manufacturer UNT

Kering Eyewear has announced that it has signed an agreement to acquire 100 percent of the share capital of the French company Usinage & Nouvelles Technologies (UNT) as it looks to cement its position in the luxury eyewear industry. UNT manufactures high-precision metal and mechanical components for the entire luxury eyewear sector at its 3,000...

Fashion |Opinion Featured

Did Demna re-set Balenciaga?

A clean white space devoid of décor except the canvas clad walls marked Balenciaga’s blank slate catwalk on Sunday during Paris fashion week. The show, despite its pared back surroundings, was held in the majestic halls of the Louvre. For all the talk of a brand re-set, Demna, Balenciaga’s artistic director, chose to forego the theatrics of...

Business

Gucci launches Circular Hub in bid to bring circularity to Italian fashion

Gucci has announced the launch of a circular luxury hub in Italy which will aim to drive the adoption of circular operations throughout the region’s fashion industry. Entitled ‘Circular Hub’ and supported by the brand’s parent company Kering, the open platform looks to aid in the transformation of the entire value chain, starting from raw...