Kering news and archive

HSBC predicts luxury market to slow down in 2019

International bank HSBC forecasts growth in the luxury sector to slow down from 9 percent in 2018 to 6 percent in 2019. But that isn't necessarily bad news. In a report titled Expecting the Unexpected, shared by email with FashionUnited, the bank said the main reason why it believes the sector is likely to slow down is because it has been...

Fashion

Balenciaga launches first in-house eyewear line with Dover Street Market

Balenciaga is kicking off the new year with the launch of an eyewear collection, available exclusively at Dover Street Market stores in the US, UK, Japan, Singapore and China, as well as on Dover Street Market’s ecommerce. With prices ranging between 290 US dollars (230 pounds) and 570 US dollars (450 pounds), the collection includes both...

Report

Héloïse Temple-Boyer replaces Patricia Barbizet as board director at Kering

Kering has announced that the company’s board of directors has decided to co-opt Financière Pinault, represented by Héloïse Temple-Boyer, as the replacement for Patricia Barbizet, vice-chairman of the board, who has decided to leave. Commenting on Barbizet’s departure, François-Henri Pinault, Chairman of the Kering board of directors, said in a...

Fashion

Kering teams up with Plug and Play to launch sustainability award in China

Kering wants to boost Chinese startups with the potential to bring a positive environmental and social impact to the apparel and textile industries. Together with startup accelerator Plug and Play, the luxury conglomerate is launching the Kering Sustainable Innovation Award, offering mentorship and networking trips to the USA and Europe for...

Fashion

Kering advocates for regenerative agriculture in supply chain

Kering is working towards advancing its sustainable measures. The global luxury group, which encompasses brands including Gucci, Saint Laurent and Balenciaga, has become a frontier founder in a new initiative facilitated by charitable ecological organization, The Savory Institute. This new collaboration is centered around the goal to expand...

Fashion

Gucci to enter fine jewelry market in 2019

Gucci will start selling fine jewelry from June or July next year, Kering’s CEO François-Henri Pinault told French newspaper Le Figaro in an interview published today. Set to be made in Italy, the collection will include 200 pieces featuring many different stones. “Alessandro Michele’s extraordinarily rich and unique universe reflects the spirit...

Business

Kering is the European company with the most women on its board of directors

When it comes to gender equality on the board of directors, luxury conglomerate Kering is setting an example. Non-profit organizations European Women on Boards and Ethics & Boards ranked Europe’s 200 largest public companies according to the percentage of women on the board, the presence of a woman serving as chair of the board and the presence...

Business

Kering to take back control of its e-commerce by 2020

Luxury conglomerate Kering has announced it will fully internalize its e-commerce websites by the first half of 2020, putting an end to a seven-year joint venture with Yoox Net-a-Porter (YNAP), which was purchased by one of Kering’s main competitors, Richemont, in May. “Coordinated efforts and shared experience with YNAP have enabled Kering...

Fashion Featured

Luxury brands are buying supply chains and passing on skills

Luxury brands are taking vertical ownership of their supply chains to ensure longevity, sustainability, artistry and reduce risk. After all, what better way to ensure a designer's collections are delivered on time, than by owning the factory that produces the garments. And it is not just production facilities that designers are investing in....

Fashion |OPINION Featured

Why designers are taking back control of their fashion companies

For many burgeoning brands, being a member of a luxury group is the key to growth and longevity. Luxury conglomerates like Kering, LVMH and Richemont have the prowess and investment acumen to set up successful production and manufacturing processes, develop and expand collections and product categories, grow distribution channels, conquer new...

Report

Kering board nominates Ginevra Elkann as Director

The board of directors of Kering unanimously nominated Ginevra Elkann as the replacement for Laurence Boone, who resigned her directorship following her appointment as chief economist of the OECD. The company said, Elkann’s nomination as a new independent director will be submitted to shareholders for approval at the next Kering annual general...

Business

Luxury group Kering launches stock repurchase programme

Global luxury group Kering has today announced its plan to repurchase up to 1.0 percent of its share capital over a 12-month period. The news comes following the stock repurchase authorisation granted by the General Meeting of Shareholders on 26 April, 2018. Kering has signed a share buyback agreement with an investment service provider. Under...