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kering news and archive

Fashion

After quitting social media, Bottega Veneta launches digital magazine

Bottega Veneta has launched a new digital magazine called Issue. The debut quarterly publication is an audiovisual feast and curated with a roster of luminaries including Barbara Hulanicki, Missy Elliott and Walter Pfeiffer. There is plenty of fashion editorial and catwalk footage, but also music, video and graphics. The online publication is...

Apr. 1, 2021

Business

Resale platform Vestiaire Collective secures Kering investment

Pre-owned clothing platform Vestiaire Collective has announced the completion of a new 178 million euro (216 million dollar) financing round backed by Gucci-owner Kering and US-based hedge fund Tiger Global Management. Kering chairman François-Henri Pinault described the fast-growing resale market as a “real and deeply rooted trend” as his...

Mar. 2, 2021

Business

Kering FY2020 revenues drop by 17.6 percent

Total revenue generated by Kering’s Houses in 2020 amounted to 12,676.6 million euros, down 17.6 percent reported and 16.5 percent on a comparable basis. The company said in a statement that while the health crisis and lockdown measures took a heavy toll on the Houses’ first-half sales (down 30.2 percent), the situation improved significantly in...

Feb. 18, 2021

Business

Kering looks to rebound after 2020 coronacrisis

French luxury goods group Kering, home to brands such as Gucci and Yves Saint Laurent, said Wednesday a positive performance in North America and Asia helped it weather the coronavirus crisis last year. Sales fell 17.5 percent to 13.1 billion euros (15.8 billion dollars) last year but the group still posted a net profit of 2.15 billion euros,...

Feb. 17, 2021

Business

Luxury giant Kering under investigation for tax fraud

Luxury group Kering, which owns Yves Saint Laurent among other top brands, has been under investigation since February 2019 for tax fraud, the French financial prosecutor's office said Wednesday. It confirmed a report by the Mediapart news agency, which said Kering had set up a system which enabled it to declare in Switzerland activities in...

Dec. 16, 2020

Fashion

Balenciaga debuting fall collection via video game

Balenciaga is taking a very unconventional approach to its fall/winter 2021 collection. This time the Kering-owned brand will be showcasing their latest collection via video game. The video game will be called “Afterworld” and will be released on December 6. The game will be set in the year 2031. The clothes will be futuristic inspired....

Nov. 27, 2020

Business

Kering's luxury houses report positive sales growth in Q3

Kering’s consolidated revenue in the third quarter totalled 3,717.7 million euros, down 4.3 percent as reported and 1.2 percent on a comparable basis. This performance, the company said, represents a sharp rebound compared with the year-on-year contraction of 43.5 percent as reported and 43.7 percent on a comparable basis posted in the second...

Oct. 23, 2020

Retail

Bolt Threads announces exclusive partnerships to introduce Mylo

Adidas, Kering, Lululemon and Stella McCartney have united with Bolt Threads to usher in a more sustainable future for fashion. The consortium is the largest joint development in consumer biomaterials to date. Bolt Threads is on a mission to harness the underground structure of mushrooms as it is an infinitely renewable resource. The material,...

Oct. 6, 2020

Business

Kerby Jean-Raymond partners with Kering on new venture

American fashion designer Kerby Jean-Raymond, founder of Pyer Moss, has announced a new venture with French luxury conglomerate, Kering. The new platform, Your Friends in New York is designed to “empower the next generation of innovators,” according to the press release and is a venture that goes beyond fashion. Your Friends in New York (YFINY)...

Sep. 10, 2020

Retail

Why Gen Y & Z continue shopping despite crisis

Closed stores and strict hygiene measures are the images that have gone around the world since the outbreak of the coronavirus pandemic. Even though stores have reopened in many places, full purchasing power has not yet returned. However, the internet generation does not seem to be affected by this and continues to go on shopping sprees, online...

Aug. 27, 2020

Fashion

Kering launches biodiversity strategy

French luxury conglomerate Kering has published a series of new targets to achieve a “net positive” impact on biodiversity by 2025. The targets include converting one million hectares of farms and rangelands in its supply chain into regenerative agriculture by 2025, and protecting an additional one million hectares of critical habitat outside of...

Jul. 2, 2020

People

Kering appoints Emma Watson to board of directors

The shareholders of French luxury conglomerate Kering, which includes luxury fashion brands like Gucci, Bottega Veneta, Alexander McQueen, Yves Saint Laurent and Balenciaga, have approved the appointment of actor Emma Watson as director during their annual general meeting on 16th June 2020. They also appointed Jean Liu, president of “Chinese...

Jun. 17, 2020