All Kering articles
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News briefs
Kering to buy a building in Milan for €1.3bn
Kering has acquired a historic building in Milan for about €1.3 billion from a subsidiary of Blackstone Property Partners Europe. Located via Monte Napoleone 8, on the “most prominent corner of the city’s Quadrilatero della Moda”, the 18th century building comprises five floors, totaling a gross area of 11,800 square ...
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Kering buys 30% of Valentino
On Nov. 30, Kering completed the acquisition of a 30 percent shareholding in Valentino following clearance from the antitrust authorities. The french conglomerate had announced the purchase of the stake in the Italian fashion house on July 27, 2023. Kering bought the stake from the Qatari group Mayhoola for €1.7 ...
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ArticleThe stocks of footwear companies continued to be under pressure in Q3
The prices of stocks monitored by Shoe Intelligence fell by 7 percent on average in the third quarter of 2023 compared with the previous three months amid ongoing concern about the economic outlook due to weak demand, higher interest rates and stubborn inflation. In the second quarter, the panel was ...
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Marco Bizzarri quits Gucci
Marco Bizzarri, the president and CEO of Gucci since 2015, will leave the company effective Sept. 23. Bizzarri ”has masterminded the execution of Gucci’s outstanding growth strategy since 2015,” said the French luxury goods company Kering, the owner of Gucci. The manager has been a member of Kering’s executive committee ...
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News briefs
Bottega Veneta opens a footwear factory
Bottega Veneta, the Italian luxury goods brand owned by the French conglomerate Kering, has launched a 5,450 square-meter facility specialized in the design, development and manufacturing of footwear. The site is located in the Italian town of Vigonza in the footwear cluster of Riviera del Brenta, in the Veneto region. ...
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Kering’s Q1 sales rise slightly
In the first quarter of 2023, Kering’s revenues totalled €5,077 million, up by 2 percent as reported and by 1 percent on a comparable basis. Revenues in the directly operated store network, including e-commerce, rose by 4 percent on a comparable basis. The increase was driven by good momentum in ...
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News briefsKering’s FY sales rise by 15% driven by Yves Saint Laurent
Kering’s 2022 revenues rose by a reported 15 percent, and by a like-for-like 9 percent, to €20.351 billion. Comparable sales for the directly-operated stores of the French luxury goods group increased by 10 percent, driven by Western Europe and Japan. Among the group’s leading brands, comparable revenues inched up ...
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News briefs
Sabato De Sarno becomes Gucci’s creative director
Sabato De Sarno has been appointed Gucci’s creative director. He will present his debut runway collection at Milan Women’s Fashion Week in September 2023, announced Kering, the parent company of the Italian fashion house. In his new role, De Sarno will lead the house’s design studio reporting to Marco Bizzarri, ...
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ArticleStocks of U.S. footwear companies rebound in Q4
Trading remained very volatile in the fourth quarter of 2022 with the various clusters of our universe of stocks often fluctuating significantly compared with the previous three months. Overall, Shoe Intelligence’s selection of stocks continues to trend water, rising by just over 2 percent on average. Shares of Brazilian footwear ...
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News briefs
Gucci’s creative director leaves
Gucci’s creative director, Alessandro Michele, has stepped down after holding the job since 2015. During his tenure, Michele revived the Italian brand owned by the French luxury goods company Kering. In a statement, Kering said that Michele had “played a fundamental part in making the brand what it is today.” ...
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News briefs
Kering’s Q3 sales up 23%
In the third quarter of 2022, Kering’s revenues rose by 23 percent to €5,137 million. On a comparable basis, the top line was up by 14 percent. Sales at the group’s key Gucci brand totaled €2,581 million, up by 18 percent as reported and by 9 percent on a comparable ...
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ArticleStocks of Brazilian footwear manufacturers outperform in Q3
In the third quarter of 2022, the stock prices of footwear companies and associated sectors monitored by Shoe Intelligence were on average virtually unchanged, falling by less than 3 percent when compared with the previous three months. But, the figure conceals noticeable disparities between the panel’s subsegments. The cohort of ...
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ArticleFootwear stocks track global markets lower in Q2
In the second quarter of 2022, footwear stocks declined significantly in line with global markets, which suffered their strongest pullback in decades. In the U.S., the S&P 500 index posted its worst performance in the first half of the year since 1970. Global markets were hit by raising inflation, a ...
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News briefs
Gucci’s Q1 sales disappoint
Kering reported revenues of €4.956 billion in the first quarter of 2022, up by a reported 27 percent and by 21 percent on a comparable basis. Sales of the key Gucci brand amounted to €2.591 billion in the quarter, an increase of 20 percent on a reported basis and 13 ...
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ArticleBrazilian, Indian footwear stocks outperform in a weak environment
In the first quarter of 2022, the share prices of footwear companies fell sharply, tracking global equity markets lower. But, the Indian and Brazilian companies that we monitor for our stock performance survey outperformed their peers over the period.
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News briefs
Kering posts record full-year sales
Kering achieved record revenues in 2021 at €17.019 billion, up by 34 percent as reported and up by 35 percent on a comparable basis. The recurring operating income rose by 60 percent year-on-year to a record €5.017 billion. Online sales continued to grow, up by 55 percent. The online channel’s ...
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News briefs
Kering sales up 12.6% in Q3
Kering’s revenues rose by 12.6 percent year-over-year in the third quarter to €4,188 million, with comparable sales up by 12.2 percent. Comparable revenues grew by 10.0 percent against the third quarter of 2019. Comparable revenues generated by the group’s directly-operated stores climbed by 12.0 percent from the third quarter of ...
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News briefsKering Q1 comparable sales up 25.8%
Kering ’s revenues rose by 21.4 percent year-over-year in the first quarter to €3,890 million, with comparable sales up by 25.8 percent driven by Asia-Pacific and North America. The top line grew by 5.5 percent at constant exchange rates against the first quarter of 2019. Comparable revenues generated ...
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ArticleKering unveils new logistics hub in Italy
Kering has presented its new logistics hub located in Trecate, about 50 kilometers west of Milan in the province of Novara, and managed by XPO Logistics . The French luxury goods group said that it was its largest investment in Italy but without indicating the amount. The site ...
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ArticleKering invests in secondhand e-tailer Vestiaire Collective
Kering has acquired an about 5 percent stake in Vestiaire Collective , an online platform for second-hand fashion items. The investment gives the French luxury goods group the right to be represented on e-tailer’s board. Kering and the American investment firm Tiger Global Management backed a €178 ...
