Kering news and archive

Is this the second coming of designer John Galliano?

If ever there was a star that shone exceptionally bright at this year’s Met Gala, it was that of John Galliano. Despite the British designer not attending in person, his triumphant designs were worn during some of the biggest red carpet moments of the event, including co-chairs Zendaya and Bad Bunny, Kim Kardashian, Ariana Grande—who performed...

Fashion Featured

Gucci presents its Cruise 2025 show at London's Tate Gallery

Gucci and London share a long history, with founder Guccio Gucci finding work as a porter in the Savoy Hotel in 1897. Energised by the city’s vibrant spirit, he returned to Florence to open a travel goods store, with the aspiration to narrate, through his luggage, a new way of living. More than a century later, the notion of London as a place of...

BusinessFeatured

First quarter luxury earnings show brands' strengths and weaknesses

French luxury conglomerates serve as bellwethers for the wider industry, and the first-quarter revenue results have provided insight into both the strengths and weaknesses of the sector, shedding light on the preferences and behaviours of luxury consumers worldwide. While certain companies exceeded analysts' expectations, others experienced a...

BusinessFeatured

Kering forecasts sharp decline in H1 operating profit

Kering Group’s first quarter revenue of 4.5 billion euros, declined 11 percent as reported and 10 percent on a comparable basis. The company said in a statement that revenue from the directly operated retail network fell 11 percent on a comparable basis, as a result of lower store traffic. Revenue in the wholesale and other segments was also...

People

Kering appoints new deputy CEO for Gucci

The Italian luxury goods group Kering has appointed Stefano Cantino to the role of deputy chief executive officer at Gucci. Cantino will take up his new position on 2 May and will report to Gucci CEO Jean-François Palus, the Italian fashion house announced on Thursday. In this newly created position, Cantino will share responsibility with Palus...

Investors brace for luxury slowdown in Q1

Investors are bracing for a notable downturn in luxury sales as companies prepare to release their first-quarter results, reflecting weakened demand from China, reported Reuters. Kering's unexpected forecast of a 10 percent decline in first-quarter sales, contrasting with the 3 percent anticipated by analysts, has already cast a shadow over the...

Retail

Chanel joins luxury retail battle for Manhattan's Fifth Avenue

The race to acquire luxury real estate is getting hotter as Chanel and Louis Vuitton are bidding for the same building in Manhattan’s prestigious Fifth Avenue retail area. As top-tier luxury brands vie for their space in the world’s most iconic shopping corridors, the building at 745 Fifth Ave and 58th Street is a most prestige location and...

Retail

Kering acquires Milan's most expensive real estate

Luxury powerhouse Kering has made history with its acquisition of via Montenapoleone 8 in Italy, marking the largest single asset transaction ever recorded in the country. Purchased from Blackstone Property Partners Europe for a staggering 1.3 billion euros, the move underscores the importance for luxury conglomerates to secure prime locations...

People

Kering appoints Mélanie Flouquet and Armelle Poulou to executive committee

Kering has appointed Mélanie Flouquet, chief strategy officer, and Armelle Poulou, chief financial officer, to the group’s executive committee, effective immediately. With these two appointments, Kering said in a statement, the executive committee now comprises 13 members of which 46 percent are women. The company added that Mélanie Flouquet, a...

Fashion

IFM and Kering showcase wool swimsuits at French Senate

A fashion show featuring wool swimsuits, held at the Senate, the upper house of the French Parliament, prompted the young senator from Vosges, Jean Hingray, to humorously remark, "You can conjugate my promising career in the imperfect tense." The moment took place during the presentation of the work by students from the French Institute of...

Fashion

IFM x Kering Sustainability Certificate: students to present projects to French Senate

On Thursday, March 28, 2024, as part of the Sustainability IFM x Kering certificate programme and under the patronage of senator Jean Hingray, students from the Institut Français de la Mode (IFM) will present six collaborative projects that focus on sustainable development. One of the projects proposed by the students will be the subject of a...

Business

Gucci sales down 20 percent in first quarter after slowdown in Asia

Gucci’s sales have taken a tumble in the first quarter of 2024, falling 20 percent according to Kering’s forecasts. The transition of the house under a new creative director and commercial strategy required a phasing in of new product as well as updating store design. Kering said early customer response to Sabato De Sarno’s new Gucci was largely...