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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…
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…
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…
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…
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.…
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…
Italian fashion group Prada sees opportunity in the booming second-hand fashion sector which it can develop both in-house and through partnerships, marketing chief and heir designate Lorenzo Bertelli said. The market for pre-owned chic bags and clothes has…
French luxury group Kering has taken a 5 percent stake in Vestiaire Collective, a leading platform for second-hand clothes and handbags, betting that the booming resale market will help it woo younger and more environmentally conscious shoppers. The purchase…
French international luxury group Kering has seen positive trading results brought on by stronger-than-expected sales of its Gucci brand. The group is among several luxury houses that have so far managed to ride out interruptions to business caused by 21…
Kering is facing an Italian claim for €1.4 billion (£1.2 billion) in unpaid taxes. The company’s Swiss-based Luxury Goods International (LGI) subsidiary has been under investigation for allegedly avoiding tax on earnings generated elsewhere. The probe has…
French luxury house Kering has launched its first in-house Balenciaga eyewear line at British Dover Street Market stores. The new collection is exclusive to the DSM chain in the US, UK, Japan, Singapore and China, as well as the brand’s e-commerce channel.…
French luxury goods giant Kering has received a prize for its high level of female representation on its board. The company has made gender equality one of its corporate priority and has, this week, been chosen to receive the “Most Feminine Board of…
These are flush times for Gucci, the 96-year-old house that in recent years has become fashion’s all-conquering luxury brand. And amid booming sales, Alessandro Michele, Gucci’s creative director since 2015, has introduced the brand’s first high-end fine…
Customers draw inspiration from today’s hyperconnected world and they engage with luxury brands through the digital tools they use every day. In a fast-changing environment, the success of luxury houses depends upon their ability to offer creative…
Kering, which owns Gucci, Saint Laurent and Balenciaga, said it planned to buy back up to 1 percent of its share capital over a 12-month period. According to the luxury-goods group, the total amount of the share buyback agreement would not exceed €300 million…
Kering sales growth significantly outpaced its rivals during the third quarter, up 27.6 per cent as reported and 27.5 per cent on a comparable basis, to €3.402 billion. In Kering-operated stores, Asia Pacific sales rose 33.3 per cent on a comparable basis,…
