Sarah ChenFashion
European Luxury Groups Shed €250 Billion as China Demand Slumps
Sales drops reaching 20 per cent across major fashion houses in mainland China trigger sharp equity losses and pressure retail operations across Asia.
Tag
Kering
Every story tagged Kering on RetailNews Asia: reporting, analysis and market signals from across Asian retail and e-commerce.
Stories tagged Kering
53 stories in this topic
Wei ZhangFashion
LVMH, Hermès and Kering Shares Fall up to 40% Since January
Richemont remains roughly flat as major luxury companies report lower sales across a three-year downturn following the post-pandemic boom.
Wei ZhangFashion
China’s 20% Tax Crackdown Piles Pressure on Luxury Brands
Wealthy Chinese face an October 22 deadline to settle back taxes on offshore trusts, curbing spending at LVMH, Kering and Hermes.
Aiko TanakaFashion
Global Luxury Set to Grow 2 to 5 Percent as Burberry and Kering Reset
A BCG survey of 12,000 consumers shows 70 percent halted purchases over price hikes, shifting spending toward beauty.
Aiko TanakaFashion
Gucci Shifts Sneaker Manufacturing to China in Break with Tradition
Parent company Kering will maintain production of formal leather shoes and handbags in Italy while sourcing technical casual footwear from Asian hubs.
Minjun ParkFashion
Kering Partners with Reliance Brands to Bring Generation Award to India
The R|Elan Circular Design Challenge will serve as exclusive nominating partner ahead of a Delhi ceremony on October 13.
Rajiv MenonFashion
China Luxury Label Icicle Hires Former Gucci Head Sabato De Sarno
The Italian designer will oversee ready-to-wear, accessories and eyewear, with his debut collection scheduled for the autumn/winter 2027-2028 season.
Maria SantosFashion
Kering Redirects up to €300 Million to Asia as Regional Sales Grow 12 per Cent
Yves Saint Laurent led regional expansion with 30 per cent annual gains while Gucci saw its revenue share across the group drop to 48 per cent.
Rajiv MenonFashion
European Luxury Houses See China Rebound as Burberry Sales Climb 9%
Consensus estimates point to fourth-quarter sales growth for Kering in Greater China, even after July luxury revenue across the market fell 10 percent.
Aiko TanakaFashion
Kering Bounces Back with Revenue Growth in Q2 Amidst Operational Changes
The luxury group Kering has reported an upturn in its performance for Q2, indicating a return to revenue growth. CEO Luca de Meo has attributed this encouraging development to the early signs of progress across Kering’s portfolio, following recent operational…
Aiko TanakaFashion
Gucci’s Rebranding Challenge: Kering CEO Maps Out Strategy for Sophisticated Chinese Luxury Market
Kering’s flagship brand, Gucci, is focusing on rebuilding its market position in China following years of stagnation. The luxury company’s complacency resulted in an underwhelming retail experience and poorly situated stores, according to Kering CEO Luca de…
Wei ZhangFashion
Kering Divests Beauty Division To L’oreal For $4.6b: A Strategic Push For Luxury Fashion Focus
In a significant maneuver towards streamlining its operations, luxury conglomerate Kering has divested its beauty division to L’Oreal. The deal, valued at US$4.6 billion (EU$4 billion), is part of Kering’s broader strategy to concentrate on its essential…
Aiko TanakaGeneral
Kering Reports 16% Revenue Drop Amid Gucci’s Struggling Sales In First Half Of 2021
Kering, the renowned French luxury merchandise corporation, has disclosed a significant sales drop for the initial half of the year. The company’s performance continues to be impacted negatively owing to a consistent decline in sales from Gucci. Semi-Annual…
Wei ZhangFashion
Alessandro Michele is stepping down as Gucci’s creative director
The company announced Wednesday that Alessandro Michele is stepping down as Gucci’s creative director. Michele, who has been with Gucci for 20 years, assumed the role in 2015. Before becoming creative director, he was in the company’s shoe and accessories…
Maria SantosFashion
Kering Eyewear opens first South Korea store, its largest yet in Asia
Luxury brand Kering Eyewear has launched its first store in South Korea, located on the eighth floor of Lotte Duty Free’s store in Busan. A collaboration between Kering Group and Lotte, the brand claims the new boutique is its largest store in Asia to date.…
Maria SantosFashion
Kering bullish on Chinese domestic luxury consumption
French luxury goods Kering sounded a positive note on its forecasts for its performance this year in China, even if the country’s consumers are not expected to resume traveling abroad for at least a year. Group managing director Jean-Francois Palus told…