Kering news and archive

Reports: Giambattista Valli at risk of closure

The Giambattista Valli, an Italian-French fashion brand is reportedly facing a complex period that could lead to its closure. According to reports from Italian daily newspaper Il Foglio, this is due to debts far exceeding the label's turnover. “We do not know if we will make it to spring,” a company executive told the newspaper founded by...

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Kering gets green light for phased acquisition of Raselli Franco Group

The French luxury giant is heading to Valenza, a town in the Piedmont region's province of Alessandria. The area is home to the most important production units for international high jewellery. Kering is acquiring Raselli Franco Group, one of Europe's largest independent producers of luxury jewellery. This marks the first acquisition since the...

Retail

Saint Laurent Rive Droite, the brand's cultural concept, launches in China

Saint Laurent Rive Droite, the house's cultural concept store conceived by Anthony Vaccarello, is opening a location in Beijing, China. In the 1960s, Yves Saint-Laurent Rive Gauche democratised luxury with its ready-to-wear line, Saint Laurent Rive Gauche. In 2019, Anthony Vaccarello, the house's artistic director, launched Saint Laurent Rive...

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Kering monetises Fifth Avenue asset through Ardian partnership

Luxury group Kering and investment firm Ardian have announced the completion of a co-investment agreement, formalised through the creation of a joint venture centred on a real estate asset on Fifth Avenue in New York. The building, located at 715-717 Fifth Avenue, occupies a prime position offering approximately 10,700 square metres of luxury...

People

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...

Fashion

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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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,...