All Kering articles – Page 2
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News briefsKering dragged down by Gucci
Revenues of the French luxury goods group Kering amounted to €13,100 million in 2020, down by 17.5 percent year-on-year on a reported basis and by 16.4 percent on comparable structure and exchange rates due to the impact of the Covid-19 pandemic. The decline was driven by the group’s ...
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ArticleStocks of footwear companies fell by 16.3% in 2020
Well functioning financial markets are providers of information and signals. We are analyzing last year’s performance of footwear companies, but also of luxury goods and e-commerce companies with a strong footwear component, to see how markets perceived some of the key players of our industry.
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ArticleKering investigated by French financial prosecutor
Kering said that the French financial public prosecutor (Parquet National Financier) has opened a preliminary inquiry concerning the company in February 2019. The French luxury goods group added that it had not previously been informed of the inquiry. The comments come following media reports about the prosecutor investigating ...
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ArticleFarfetch, Alibaba, Richemont, Pinault family form a formidable alliance in digital sales
Farfetch , Alibaba , Richemont and the Pinault family, which owns the French luxury goods company Kering , have entered a global partnership with the declared intent of providing luxury brands with “enhanced access” to the Chinese market as well as accelerating the digitization of the global ...
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News briefsKering H1 revenues down by 30%
Revenues of the French luxury goods group Kering amounted to €5,378 million in the first half, down by 29.6 percent year-on-year on a reported basis and by 30.1 percent on comparable structure and exchange rates due to the impact of the Covid-19 pandemic. The recurring operating income fell by ...
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News briefs
Kering to create testing laboratory in Tuscany
The French fashion group Kering is setting up a Test Innovation Laboratory (TIL) in Prato, Tuscany. It will provide chemical and other tests on products and raw materials for apparel, leathergoods, footwear, eyewear, watches and jewelry. It is scheduled to start operating in the first half ...
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News briefs
Gucci sets its own show schedule
Gucci creative director Alessandro Michele said the fashion house, owned by the Kering group, would leave the traditional fashion calendar as it plans to show twice a year only. “I will abandon the worn-out ritual of seasonalities and shows to regain a new cadence, closer to ...
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News briefs
Peta invests in luxury brands
The American animal-rights group People for the Ethical Treatment of Animals (Peta) has taken advantage of the stock market’s decline caused by the Covid-19 pandemic to purchase stakes of undisclosed sizes in approximately 20 companies in the luxury industry, among them Kering , Burberry , Ralph Lauren and ...
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News briefs
Tourism drought expected to reduce European luxury sales
LVMH said it expects revenues to drop by 10 to 20 percent year-on-year in the first quarter of 2020, as restrictions to combat the Covid-19 pandemic have forced the group to close production sites and stores in several countries. Separately, the bank RBC Europe said that overall global ...
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Article
Record operating margin of 30.1% for Kering
Kering grew a little faster than LVMH in 2019, rising by 16.2 percent to €15.88 billion, with a growth of 13.3 percent on a comparable basis. The group’s operating income (Ebit) went up by 19.6 percent to €4.78 billion, resulting in a record margin of 30.1 percent and breaking the ...
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