Kering news and archive

Kering partners with Black in Corporate

Kering has partnered with Candace Marie Stewart’s Black in Corporate on a month-long virtual mentorship program for Black professionals. The program will pair Black professionals at different stages of their career with a mentor at Kering Americas or one of the brands fashion houses. Some notable brands in Kering’s portfolio include Gucci,...

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Kering snaps up stake in handbag rental service Cocoon

Gucci-owner Kering has invested in handbag rental service Cocoon in the latest example of the French luxury giant’s confidence in circular fashion businesses. London-based Cocoon offers its customers a variety of rental memberships starting from 49 pounds per month which they can pay for on a monthly or quarterly basis, giving them access to top...

Business

Fashion for Good project with Bestseller and Kering demonstrates tracing of viscose

Global sustainability initiative Fashion for Good reported the successful completion of its Viscose Traceability Pilot in time for World Rainforest Day on 22nd June 2021. The pilot is a consortium project with partners Bestseller and Kering and supported by Zalando to trace sustainable viscose in garments using innovator TextileGenesis’...

Business

The stock market's luxury indexes are soaring post pandemic

Luxury investors are showing confidence in the stock market again, with mergers and acquisitions back on fashion’s agenda. Covid-19 has without a doubt impacted the world’s stock exchanges, sending most of them in a frenzy in the early days, but after several months of difficulties, luxury indexes are setting new historical records. The month of...

Fashion Featured

5 Brands launching Pride Collections with a Difference

June is the month of Pride and some brands are doing more than lip service and making inclusivity a priority. For the past several years, a plethora of brands from high street to sportswear to luxury, have unveiled collections and collaborations that directly benefit the LGBTQIA+ community, either through awareness or donating to relevant...

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Kering sells further 5.9 percent stake in Puma

French luxury group Kering has sold an almost 6 percent stake in Puma as it continues to wind down its investment in the German sportswear category. Kering announced Thursday “the launch of the sell-down of approximately 8.9 million shares that it owns in Puma SE, representing approximately 5.9 percent of the share capital of Puma, through a...

Fashion Featured

From farm to closet: How some brands are embracing regenerative production

When luxury companies began buying factories to keep artisan skills alive, it was a passive move into sustainability. It was also a way to stifle competition, where brands have priority ownership over their supply chains. Safeguarding craftsmanship From a craftsmanship point of view, hand-made products hold their own unique value, and remain...

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Strong Gucci sales drive Kering rebound to pre-Covid revenue

Italian luxury label Gucci has helped drive a rebound in the revenue of its parent company Kering to pre-Covid levels in the first quarter of the year. The French luxury group’s revenue rose 25.8 percent to 3.89 billion euros on a comparable basis, ahead of analysts’ estimates. It is another indication that the luxury industry is beginning to...

Fashion Featured

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...

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...

Business

Gucci's sales have lost momentum, affecting Kering's recovery

2020 was not a year investors expected stellar growth from most luxury brands. In the epic times of a global pandemic, most hoped to see a rebound toward the fourth quarter, with 2021 the year of returning to pre-Covid sales levels and acceleration. At Gucci, sales were down 22 percent year on year, a loss far higher than most of its peers in...

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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...