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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...

Mar 20, 2023

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...

Mar 14, 2023

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...

Mar 6, 2023

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...

Feb 21, 2023

Business

Gucci to focus on HNWI and private clients to boost sales

Gucci is revving up its strategy to increase sales, targeting high net worth individuals (HNWI) to foster growth. Kering’s results this week confirmed the Italian luxury house has lost its momentum, but private client sales could boost its bottom line, with prices ranging from 40,000 dollars to 3 million dollars, Kering ceo Francoi-Henri Pinault...

Feb 17, 2023

ManagementFeatured

14 percent sales decline at Gucci impacts Kering's Q4 results

Kering Group revenue exceeded 20 billion euros in 2022, an increase of 15 percent as reported and 9 percent on a comparable basis. In the fourth quarter, total sales were down 2 percent as reported and 7 percent on a comparable basis, with mixed performances across houses and regions. The group’s revenue from the directly operated retail...

Feb 15, 2023

Fashion |Opinion Featured

Balenciaga to focus on collections and heritage, not hype

Ahead of Paris fashion week, Balenciaga creative director Demna has let it be known the house will not seek to create buzz via controversy for its upcoming show, instead focusing on product, heritage and craftsmanship. After a series of high profile faux pas, from a campaign that featured children, props that included a Supreme Court ruling...

Feb 10, 2023

Business

Balenciaga and Kering Foundation partner with National Children’s Alliance

Luxury brand Balenciaga and the Kering Foundation have announced a new partnership with National Children’s Alliance (NCA) overseeing a three-year programme. As part of the agreement, the duo will support NCA’s Mental Health Institute by facilitating access to trauma-focused cognitive behavioural training, as well as raising public awareness on...

Feb 9, 2023

Report

Kering names new CEO of Kering Beauté

Luxury conglomerate Kering has announced the appointment of Raffaella Cornaggia as CEO of Kering Beauté. In the role, Cornaggia has been tasked with developing an expertise in the beauty category for Bottega Veneta, Balenciaga, Alexander McQueen, Pomellato and Qeelin. Reporting to the group managing director of Kering, Jean-François Palus, she...

Feb 3, 2023

Fashion Featured

A new subdued Gucci opens Milan Men's Fashion Week

Gucci on Friday debuted its first menswear collection without its former creative director, Alessandro Michele. While simultaneously opening Milan Men’s Fashion Week, it was also Gucci’s first standalone show after years of presenting in a co-ed format. It was certainly a far cry from its September Twinsville presentation. As the sound of a bass...

Jan 13, 2023

RetailFeatured

American luxury shoppers are flocking to Europe

What do London, Paris and Milan have in common? A surge in American luxury shoppers, who are on the continent to buy European high-end fashion and accessories, as the dollar continues to stretch to its highest value in 20 years. In a recent note, Bank of America said: “Very strong demand from US luxury customers was the biggest positive tailwind...

Dec 12, 2022

Business

Kering and L’Occitane partner on Climate Fund for Nature

Luxury group Kering and cosmetics giant L’Occitane have come together to launch the Climate Fund for Nature during the ongoing Conference of Parties (COP) of the Convention on Biological Diversity, taking place in Montréal. The goal of the initiative is to mobilise resources from the luxury fashion and beauty sectors to protect and restore...

Dec 12, 2022