Kering news and archive

Gucci-owner Kering forecasts 30 percent drop in H2 operating income

Kering’s group revenue of 9.1 billion euros for the first half period, down 11 percent as reported and on a comparable basis. In the second quarter, revenue totaled 4.5 billion euros, also down 11 percent as reported and on a comparable basis. Recurring operating income fell 42 percent to 1.6 billion euros and net income attributable to the...

Management

Kering sees earnings fall, issues profit warning

Luxury group Kering said Wednesday its half-year net profit fell by half and warned operating earnings for the second half of the year would be down around 30 percent. Revenues also slid by 12 percent and its flagship brand Gucci continues to underperform, with sales down by 20 percent.(AFP)

Report

Ewa Abrams takes over as president of Kering Americas

Ewa Abrams, currently general counsel of Kering Americas, which she joined in 2018, is now appointed president of Kering Americas, effective August 1, 2024. The company said in a statement that she will report directly to Jean-Marc Duplaix, deputy CEO, in charge of operations and finance, and succeeds Laurent Claquin, following his appointment...

Report

Pomellato acquires stone-setting laboratory

Milan-based luxury jeweller Pomellato has acquired established stone setting laboratory Valenza Setting Lab srl (VSL), for an undisclosed amount to reinforce its manufacturing capabilities. In a statement, Pomellato said the acquisition would strengthen its production, specifically in the diamond and precious stone setting sector, to support the...

Fashion Featured

Valentino drops first collection designed by Alessandro Michele

Alessandro Michele, the newly appointed creative director of Valentino, unveiled a surprise pre-spring 2025 collection look book during the penultimate day of Milan men's fashion week, three months before his highly anticipated debut runway show. The collection, consisting of 171 looks and 91 detail shots of accessories, marks the triumphant...

Report

Laurent Claquin to assume chief brand officer role at Kering

Kering has appointed Laurent Claquin as group chief brand officer, effective July 1, 2024. The company said in a release that he will join the executive committee and will report to Jean-Marc Duplaix, deputy CEO of Kering in charge of operations and finance. Kering added that the creation of this role aims to enhance the appeal of the company’s...

Fashion Featured

Boom or bust: The challenges of launching a fashion label today

A handful of respected and previously successful brands, including Mara Hoffman, Dion Lee, and The Vampire’s Wife, have recently ceased operations. Their struggles underscore the formidable challenges faced by independent fashion designers in today’s market. Competing against well-oiled conglomerates, the market is saturated with brands and...

Business

Gucci hub in Milan allegedly at centre of tax complaint against Kering

The Gucci hub in Milan, a large building housing the maison's offices, exhibition spaces and catwalks, is currently embroiled in allegations of tax evasion a new exposé has revealed. Italian newspapers Mediapart and Domani said they had obtained the exposé which had allegedly been sent to the country's governmental tax agency Agenzia delle...

Fashion |Opinion Featured

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...

ManagementFeatured

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...

ManagementFeatured

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...