Gucci Sales Slump as Kering Seeks New Designer Gucci, the epitome of luxury and style, has hit a bump in the road as its fourth-quarter sales took a significant dip of 24 percent. This unexpected decline has set off alarm bells not only within the iconic Italian brand but also for its parent company, Kering. […]
The Problems with Gucci and Dior
The Challenges Ahead for Gucci and Dior After experiencing a remarkable surge in sales over the past five years, luxury powerhouses LVMH’s Dior and Kering’s Gucci are now encountering significant challenges. Despite their contrasting situations, both brands are navigating through turbulent waters in the ever-competitive fashion industry. Gucci, under the umbrella of Kering, has been […]
This Week: The Super Bowl; Gucci at a Crossroads
This Week: The Super Bowl; Gucci at a Crossroads The anticipation is high as we approach one of the most significant events in American sports – the Super Bowl. Millions of viewers will tune in to watch the showdown between the top NFL teams, eager to see who will emerge victorious in this ultimate display […]
Who Will Lead the House of Gucci?
Who Will Lead the House of Gucci? The fashion world was recently shaken by the unexpected departure of creative director Sabato De Sarno from the prestigious House of Gucci. This sudden exit has left many wondering about the future of one of Kering’s anchor brands and who will step up to fill the creative void […]
Kering Sells Italian Luxury Outlets to Alleviate Debt
Kering Sells Italian Luxury Outlets to Alleviate Debt In a strategic move to alleviate debt and streamline its operations, the French luxury conglomerate Kering has recently announced the sale of its Italian luxury outlets. This decision is expected to bring in a substantial sum of €350 million, further solidifying Kering’s position in the ever-competitive luxury […]
Kering Sells Majority Stake in Three Paris Properties to Ardian
Kering’s Strategic Move: Selling Majority Stake in Three Paris Properties to Ardian In a strategic business decision, Kering, the renowned French luxury group, has recently announced the sale of a majority stake in three of its prestigious Paris properties to Ardian, a leading global investment company. This significant transaction marks the beginning of a new […]
Kering Seen Closing Property Deal in Early 2025 to Cut Debt Load
In a strategic move to address its debt challenges, Kering SA, the luxury conglomerate known for brands like Gucci, is preparing to finalize a significant investment deal expected to close in early 2025. This deal will establish a new entity to manage Kering’s extensive real estate portfolio, valued at approximately €4 billion ($4.2 billion), encompassing […]
François Pinault Out of the Global 100 Richest
Francois Pinault, the esteemed founder of Kering SA, has experienced a dramatic decline in his wealth, which has dropped by two-thirds from its peak in August 2021. As of November 2024, he is ranked No. 105 on the Bloomberg Billionaires Index, marking a significant departure from his previous position among the top hundred wealthiest individuals […]
Kering’s Balenciaga CEO Charbit Set to Lead Yves Saint Laurent
Kering SA, the luxury fashion powerhouse, is reportedly considering Cedric Charbit, the current CEO of Balenciaga, as the next leader of Yves Saint Laurent. The anticipated transition comes in the wake of Francesca Bellettini, the incumbent CEO, stepping into a more prominent role within the struggling French fashion conglomerate in 2023. This strategic move is […]
This Week: How Deep Will Luxury’s Downturn Go?
In the world of luxury goods, the recent woes of LVMH, Kering, Hermès, and Zegna raise pressing questions about the future direction of the sector. Following LVMH’s disappointing sales figures, analysts and investors alike are questioning just how far this downturn will extend. The situation becomes especially alarming given LVMH’s status as the leading indicator […]