Kering news and archive

Prada buying Versace buy is a win-win for Italian luxury

When Prada this week confirmed its acquisition of Versace for 1.25bn euros it was both a business transaction as much as a symbolic repatriation of Italian heritage. As the dominance of French conglomerates LVMH and Kering has become the established order in luxury fashion—owning Italian crown jewels from Fendi to Gucci—the Prada Group's...

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Kering celebrates 10 years of Women In Motion

In the ecosystem where fashion, film, and culture converge, Kering’s Women In Motion has carved out a space not only for reflection, but for redefinition. Launched by the French luxury group at the Festival de Cannes in 2015, the initiative has grown into a vital platform for recalibrating the gender narrative within the creative industries—one...

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Kering Eyewear acquires Visard and joins Mistral

French luxury goods group Kering SA is investing in its eyewear division. On Thursday, the group announced corresponding agreements with two Italian eyewear manufacturers. According to the agreement, the subsidiary Kering Eyewear will acquire all shares in Visard Srl and a minority stake in Mistral Srl, founded as a spin-off from Visard in 1991....

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Kering closes sale of majority stake in prime Parisian real estate assets to Ardian

Luxury group Kering (Gucci, Saint Laurent, Bottega Veneta, Balenciaga) and investment firm Ardian have closed their investment transaction regarding a portfolio of three prime real estate assets in Paris according to an announcement on Thursday. The terms are in line with the news released on 15th January, namely a sale of 837 million euros...

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Kering’s Gucci faces investor doubts after Demna appointment

Kering’s long-anticipated announcement of Demna as Gucci’s new artistic director was met with a tepid response from investors, falling short of the market confidence the luxury conglomerate had likely hoped for. Shares in Kering closed 10 percent lower on Friday, underscoring concerns that the appointment alone is not enough to signal a decisive...

Fashion |Opinion Featured

Demna’s unexpected move to Gucci: A new era for the Florentine house

The shock announcement on Thursday of Demna’s appointment at Gucci was a fashion marriage many did not see coming. After months of speculation about who would replace Sabato De Sarno—would it be Hedi Slimane, who had reportedly already gone real estate shopping in Milan, or another number two who had been flying under the radar, like the earlier...

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Gucci names Balenciaga’s Demna Gvasalia as creative director

Kering has found its new creative lead for Gucci. Balenciaga’s Demna, who dropped his last name Gvasalia for professional purposes in 2021, has been appointed as the Italian luxury house’s new artistic director. He will take up the post early July 2025, a press release from Kering has revealed. The group’s decision to turn to Demna leant on his...

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Kering secures second consecutive CDP ‘Triple A’ rating

French luxury conglomerate Kering has once again secured a place on CDP’s coveted ‘Triple A’ list for environmental performance in 2024 — marking the second consecutive year the group has earned top marks across climate change, forests, and water security. The accolade places Kering, which operates brands such as Gucci, Saint Laurent and...

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Fashion brands see renewed growth in China amid global recovery

Signs of recovery in China’s luxury market are becoming increasingly clear as fashion brands report encouraging results for 2024. Moncler, the Italian luxury outerwear giant, posted annual revenues of 2.7 billion euros, reflecting an 8 percent increase at constant currency compared to 2023. The Asia-Pacific region was a key driver of this...

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Kering bets on Gucci revival despite lagging sales, as investors maintain optimism

Kering’s fourth-quarter results revealed a significant hit to profits, largely driven by sluggish sales at Gucci, its flagship brand. Yet, despite the challenging period, investor sentiment remains surprisingly upbeat. Shares in Kering rose following its financial reporting and abrupt departure of Gucci’s creative director Sabato De Sarno, who...

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Kering reports 12 percent decline in revenue for 2024

Luxury group Kering reported a 12 percent drop in revenue for 2024, totaling 17.2 billion euros, marking a year under pressure for the company. Recurring operating income plummeted 46 percent to 2.55 billion euros, while net income attributable to the group fell 62 percent to 1.13 billion euros. These results reflect a challenging macroeconomic...

Fashion |Opinion Featured

Gucci’s creative shake-up: Sabato De Sarno’s departure highlights ongoing turmoil at Kering

Gucci’s abrupt announcement on Thursday that Sabato De Sarno will depart as creative director was a stark and understated conclusion to his short tenure at the helm of the Italian fashion house. In a terse press release, Kering—the luxury conglomerate that owns Gucci—offered no statement from De Sarno himself. Instead, it struck an optimistic...