• Home
  • Tags
  • kering

kering news and archive

Business

Some luxury brands are beating Q3 exceptions

Last week LVMH set a precedent for other luxury groups when it posted double digit growth for its fashion and accessories businesses in Q3. While in the first nine months organic revenue declined by 11 percent, due to global lockdown measures and store closures, the third quarter saw a strong rebound in activity, with a growth of 12 percent....

23 Oct 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...

23 Oct 2020

Fashion

The Fashion Pact is uniting global companies and CEO's to transform the industry

It was one year ago when French President Emmanuel Macron launched The Fashion Pack and pitched it to the G7 heads of state at the summit Biarritz. 32 groups and brands from the luxury, retail, fashion, sports and lifestyle sector [joined the...

14 Oct 2020

Business

Kering offloads further stake in Puma

Kering has divested a 5.9 percent stake in sporting giant Puma. The luxury group led by François-Henri Pinault announced it sold its shares for a value of 655.6 million euros, corresponding to a share price of 74.50. The sale leaves Kering with a reduced 9.8 percent share of the sportswear company. In the past few years Kering began divesting...

7 Oct 2020

Fashion

Balenciaga to delay first haute couture collection to July 2021

Balenciaga is to delay its first foray into haute couture until July 2021, according to the brand’s creative director Demna Gvasalia. In an interview with WWD the designer said the pandemic upended the company’s fashion calendar forcing the planned show for January 2021 to be put forward to next July. Gvasalia further confirmed Balenciaga...

21 Sep 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)...

10 Sep 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...

27 Aug 2020

Business

Kering posts worst quarterly sales on record

The Asia rebound for luxury goods demand didn’t buy LVMH, which saw a loss of 68 percent in revenue in the second quarter. It also didn’t boost Kering’s sales, which posted a loss of 43.7 percent to 2.175 billion dollars compared to the same period last year. Kering said consolidated revenue of 5.38 billion in H1 was down 30.1 percent. on a...

29 Jul 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...

2 Jul 2020

Business

Paris court awards damages to Hedi Slimane for Kering's unlawful use of YSL images

Hedi Slimane is to be awarded 618,000 euros in damages after a Paris court ruled Kering unlawfully used his YSL photographs without consent. The decision follows years of acrimonious legal disputes between the designer and parent company of YSL where Slimane was creative director from 2012 to 2016, who’s departure from the French luxury brand...

25 Jun 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...

17 Jun 2020

Business

Kering launches 1.2 billion euro bond issue

French conglomerate Kering has launched a 1.2 billion euro dual-tranche bond, after the luxury group reported that group revenue fell by 15.4 percent in the first quarter as a result of the coronavirus pandemic. Kering, whose portfolio includes Saint Laurent, Gucci, Balenciaga, Bottega Veneta and Alexander McQueen, said the bond issue enables...

11 May 2020