Kering news and archive

Gucci's whimsy-to-chic shift leaves some wanting more

Gucci’s highly anticipated showcase at Milan Fashion Week has garnered mixed reviews from industry insiders, with some feeling that Gucci Ancora's debut collection under the new creative direction of Sabato De Sarno lacked the anticipated fervor. The collection, named "Ancora" meaning "again" in Italian, marked a tabula rasa moment, erasing any...

Business

Europe's luxury stocks took a 25 billion dollar hit

Luxury-goods stocks in Europe plummeted this week, losing over 25 billion dollars in market value, reported Bloomberg, primarily due to concerns raised by Richemont Chairman Johann Rupert about inflation impacting regional demand. LVMH, formerly Europe's largest company, saw a 3.6 percent drop in its stock price, reducing its market...

People

Gucci appoints Alessio Vannetti as chief brand officer

Ahead of Gucci’s catwalk debut under new Creative Director Sabato De Sarno, the company announced the appointment of Alessio Vannetti, who returns to the brand as its Chief Brand Officer and Executive Vice President. Mr. Vannetti previously held the role of Communications Director at Gucci from 2015 to 2019, after which he took a post at...

Report

Kering issues 3.8 billion euro bond loan to finance Creed acquisition

Luxury fashion conglomerate Kering has issued a bond loan of 3.8 billion euros, which it said would “notably” finance its acquisition of perfume house Creed. The company added that the issue, which falls in line with its active liquidity management, would also enable it to enhance financial flexibility. Kering’s takeover of Creed had been...

Fashion Featured

Gucci continues commitment to accessibility and inclusion, despite leadership changes

While Gucci's recent media coverage has predominantly highlighted shifts in leadership and a deceleration in Kering's revenue, noteworthy strides are being made in the brand's endeavors toward accessibility and inclusion. Under previous creative director Alessandro Michele and chief Marco Bizzari, Gucci became a brand with steadfast dedication...

Report

Kering names Armelle Poulou chief financial officer

Luxury group Kering has announced the appointment of Armelle Poulou as its new chief financial officer, effective September 1. Poulou first joined the group in 2019, currently serving as director of corporate finance, treasury and insurance. In her new position, she will continue to report to Jean-Marc Duplaix, who is now deputy CEO, in charge...

ManagementFeatured

Kering maintains profitability during H1 as Asia drives revenues

Kering has outlined its financials for the first half of 2023, during which time the luxury group reported a 2 percent increase in revenue, taking it to 10,1 billion euros. For the second quarter of the year, the company also reported a 2 percent uptick in sales, with revenue from its directly operated retail network – including its e-commerce...

BusinessFeatured

Kering takes 30 percent stake in Valentino as H1 results disappoint

Paris - French luxury group Kering announced Thursday it will take a stake in Italian fashion house Valentino as it released results that underperformed rivals thanks to stagnating sales at Gucci. The deal to acquire a 30 percent stake in Valentino from its owner Mayhoola opens the possibility of the Qatari investment fund becoming a shareholder...

Fashion |Opinion

Gucci in Transformation: Navigating a new era

Gucci, an Italian emblem of heritage and luxury, is set to undergo a profound transformation come September. Despite Kering chief François Pinault's initial confidence in CEO Marco Bizzarri's tenure, stating no uncertain terms: “It’s so obvious that Marco is the CEO for this next chapter of Gucci for sure,” Mr Pinault quipped to WWD, it was not...

PeopleFeatured

Kering Executive Shake-up: Marco Bizzarri exits Gucci, Saint Laurent chief appointed group head of brands

In a significant strategic manoeuvre, Italian luxury house Gucci has announced the imminent departure of its CEO, Marco Bizzarri, who is set to bid farewell to the brand in September. Kering Group transition In the wake of this leadership transition, Kering, the parent company of Gucci, has executed a top-level reshuffling, appointing former...

Culture

Kering’s François-Henri Pinault believed to be eyeing CAA acquisition

François-Henri Pinault, the chief executive officer of luxury fashion house Kering, is believed to be in “advanced” discussions to acquire a majority stake in Hollywood talent agency Creative Artists Agency (CAA). For the firm, which represents the likes of Brad Pitt and Scarlett Johansson, such a deal could reel in “at least seven billion...

Business

Kering's acquisition of Creed is reportedly valued at 3.5 billion euros

Kering, the French luxury goods conglomerate, last month announced its surprise acquisition of the prestigious fragrance house Creed, in a transaction valued at 3.5 billion euros, according to a report in the Financial Times. Although the exact financial terms of the deal were not disclosed initially, nor confirmed, this valuation sheds light on...