Kering

Kering CEO Reports Flatlining Demand in China for 2025

2 months ago

In a stark revelation, Kering's Chief Executive Officer, François-Henri Pinault, declared that he anticipates no noteworthy recovery in consumer demand from China throughout 2025. This assessment emerges amid ongoing economic challenges in the world's second-largest economy, where luxury goods sales have struggled to regain the momentum seen prior to the pandemic.

Gucci Faces Sales Decline Amid Kering's Struggling Turnaround Efforts

2 months ago

In a startling revelation from Kering, the parent company of Gucci, the luxurious fashion brand has experienced a notable plunge in sales, raising eyebrows in the luxury goods market. According to the latest financial data, Gucci's sales have dropped significantly, prompting questions about the effectiveness of Kering's strategic repositioning efforts.

Kering Set to Finalize Property Deal by Early 2025 to Alleviate Debt Pressure

4 months ago

Kering, the luxury conglomerate known for brands such as Gucci and Saint Laurent, is on the verge of completing a significant property transaction as it seeks to strengthen its financial footing. With plans to finalize the deal by the early months of 2025, Kering aims to reduce its considerable debt burden and enhance its overall financial health.

Balenciaga's CEO Cedric Charbit Poised to Steer Yves Saint Laurent

5 months ago

In a significant shift within the luxury fashion sector, Kering has announced the appointment of Cedric Charbit, the current CEO of Balenciaga, to lead the prestigious Yves Saint Laurent brand. This strategic move reflects Kering’s ongoing efforts to bolster its portfolio of high-end labels amid a competitive market landscape.

Luxury Sector Faces Turmoil as Chinese Shoppers Retreat from European Brands

5 months ago

In a notable shift within the luxury sector, major European brands such as LVMH and Kering are witnessing a significant downturn in sales, driven chiefly by a retreating Chinese consumer base. Once the mainstay of luxury shopping, Chinese customers have greatly reduced their spending abroad, which is critically impacting these luxury giants that rely heavily on this demographic.

Kering Faces Setbacks as Longtime Investor Exits Days Ahead of Sales Update

5 months ago

In a significant shift within the luxury goods market, Kering SA, the parent company of high-end brands like Gucci and Balenciaga, is experiencing turbulence following the recent decision of one of its long-standing bulls, who has chosen to exit their investment position. This unexpected move comes just as the fashion conglomerate is preparing to release its upcoming sales update, making the timing particularly alarming for stakeholders.