Kering news and archive

Media report: Creative director Norbert Stumpfl leaves Brioni

Fashion house Brioni, owned by French luxury goods group Kering, and Austrian designer Norbert Stumpfl are parting ways after seven years. This is according to a report by trade publication Women’s Wear Daily (WWD). Stumpfl was appointed creative director of the brand in 2018, succeeding Nina-Maria Nitsche. He previously held leadership roles in...

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Gucci to present Cruise 2027 collection in New York

Gucci will present the Cruise 2027 collection in New York on May 16. The show will mark Demna’s debut for the house’s cruise line, following the designer’s debut collection in February. The US city holds a fundamental place in Gucci’s history. In 1953, the house opened its first overseas boutique in New York, initiating the brand’s international...

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Kering launches “House of Dreams”: why this internal fund is at the heart of its strategic overhaul

Kering has quietly laid a major cornerstone of its transformation strategy. Luca de Meo, appointed chief executive officer (CEO) in June, has proposed the creation of a new investment entity named House of Dreams. This entity is designed to identify, acquire stakes in, and grow emerging brands to reduce the group's heavy dependence on Gucci. The...

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Luxury sector faces dilemma of 'exceptional Maisons' versus groups seeking recovery

The luxury sector is entering a new era of polarisation, according to several recently published articles and market studies. This dynamic now pits two types of players against each other: 'exceptional Maisons', capable of preserving rarity and vertical integration, and multi-brand groups that must redefine their strategy to regain their...

Fashion

Kering and Shanghai Fashion Week launch new CRAFT programme

During the opening ceremony of the Kering pavilion at the eighth China International Import Expo (CIIE), French luxury group Kering signed a memorandum of understanding (MoU) with Shanghai Fashion Week to launch Kering CRAFT. This stands for “Creative Residency for Artisanship, Fashion and Technology” and is a new initiative through which Kering...

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Coty subsidiary files lawsuit against Kering and Gucci

A subsidiary of beauty giant Coty has filed a lawsuit against Kering and Gucci in a UK commercial court weeks after a landmark acquisition deal between Kering Beauty and L’Oréal. A case filing by HFC Prestige International Operations Switzerland SARL – the documents of which have not yet been made public – has listed Gucci America Inc; Guccio...

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Kering-owned McQueen considers job cuts at its headquarters

Fashion brand Alexander McQueen is “launching a strategic review” amid a wider ongoing turnaround at its parent company Kering. The brand is considering 55 redundancies at its London-based headquarters, Kering confirmed on Thursday, following a report by WWD. These 55 positions represent 20 percent of the headquarters' workforce, Kering...

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Kering shares rise after third-quarter sales beat expectations

Shares in the French luxury group Kering rose sharply on the Paris Stock Exchange on Thursday. This followed the release of its third-quarter sales, which, despite a 10 percent decline, surpassed market expectations. The stock was up sharply by 8.12 percent to 332.35 euros at around 9:25 am CET, in a market that rose by 0.27 percent. “Kering has...

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Gucci continues to weigh on results: Kering reports 10 percent revenue decline in Q3

Kering announced a 10 percent revenue decline for the third quarter on Wednesday. This is the first financial release since Luca de Meo took office in September as the new chief executive officer, tasked with getting the luxury group back on track. Revenue fell to 3.4 billion euros, a decline less severe than in previous quarters. However,...

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L'Oréal deal to 'help us lighten the ship and relaunch our fashion brands' - Kering's Luca de Meo

Kering, which has been trying to revive its flagship brand Gucci for years, will present its third-quarter revenue on Wednesday. This is the first financial publication since Luca de Meo's arrival in September as chief executive officer to turn around the luxury group. This publication comes 72 hours after the announcement of the sale of...

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An analysis of Kering Beauté's refocusing strategy and sale to L’Oréal

Far from a hasty analysis, the sale of Kering's beauty division to L’Oréal for approximately four billion euros is more than a simple divestment. It is a decisive move, driven by an undeniable logic of debt reduction and refocusing. FashionUnited breaks down the five operational reasons behind this major transaction. “So, Kering selling its ‘...

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What impact will the sale of Kering's beauty division have on Armani?

The sale of Kering's beauty division to L'Oréal has called into question the potential acquisition of a stake in the Armani Group by the French beauty giant. Concern as to the future of L'Oréal's relationship with Armani has been raised by the media, which has speculated whether the brand's heirs may be forced to seek a different future home for...